SpaceX, the technology conglomerate founded by Elon Musk, reportedly filed disclosures confidentially with the U.S. Securities and Exchange Commission ahead of an initial public offering. SpaceX could seek a valuation of $1.75 trillion, according to Bloomberg, which cited anonymous sources.
Under SEC rules, a private company can file its IPO registration statement confidentially 15 days before it begins marketing its shares to public investors, allowing it to receive feedback from the agency in private. The company has also lined up an unusually large number of 21 banks to manage the mega IPO, internally codenamed “Project Apex,” Reuters reported Tuesday.
