Join the Kiwis who are hatching their tomorrow and have invested more than $2 billion with Hatch.
After two decades of being one of the most famous private companies on the planet, SpaceX is getting ready to launch an initial public offering.
Much like the first launch of SpaceX’s Falcon Heavy in 2018 — when a Tesla Roadster headed into space and lit up the internet — a SpaceX IPO could become a global moment, getting attention well beyond the usual investing crowd.
What you need to know:
- SpaceX has filed to go public – Reports say the company submitted a confidential draft registration to the SEC on April 1.
- Potentially, up to 30% of shares could be allocated to retail investors – This is unusually high, most IPOs reserve around 5-10%.
- It’s targeting a US$1.75 trillion valuation – This would immediately put it in the world’s top 10 most valuable companies.
- Planned roadshow for June 2026 – We’ll know more on dates when the IPO prospectus becomes public late May. Also keep an eye out for US IPOs on RetailRoadshow.com
If this goes ahead as planned, it won’t just be another tech listing – it could be the largest initial public offering ever. Here’s what investors need to understand before the hype kicks into overdrive.
What is SpaceX? 🌌
Founded in 2002 by entrepreneur and Tesla (TSLA) founder Elon Musk, SpaceX is a pioneering space transportation company. But it goes beyond just launching rockets. In reality, it’s now three businesses:
Space launch and infrastructure. SpaceX dominates, accounting for over half the world’s orbital launches from 2024-2025. SpaceX has also driven costs down through reusable rockets in a way no competitor has managed to match. Boosters are one of the most expensive parts of a launch vehicle, and reusing them can save millions. SpaceX has reused a single Falcon 9 booster 34 times!
Starlink is its financial engine. It has over 10,000 active satellites, providing satellite broadband to 10 million subscribers. It reported EBITDA profit margins above 60%, however it is by far SpaceX’s biggest source of profits.
SpaceX’s ambitions now extend into AI infrastructure. After acquiring Elon Musk’s AI company, xAI, in early 2026, the company began exploring how satellites and computing power could support AI systems — an ambitious idea that’s still being tested.
When investors talk about SpaceX’s valuation, they’re not valuing rockets alone. They’re pricing: global internet, defence contracts, AI infrastructure, and Musk’s reputation.
Why does SpaceX want to IPO? 🪐
Not satisfied with being a global sensation, SpaceX has a much bigger mission – to colonise Mars. Companies usually go public to raise capital, provide liquidity, and fund growth. SpaceX needs all three.
Big goals need big money. Building Starship, expanding its satellite network, and investing in AI all cost enormous sums, and even the biggest private investors can’t fund that forever. Going public would give SpaceX access to much larger pools of capital.
But an IPO comes with trade‑offs. As a public company, SpaceX would need to share more information, report results regularly, and answer to public shareholders. SpaceX is also expected to use multiple share classes, so Elon Musk is likely to keep control of major decisions. Retail investors would own shares, but have limited influence in how the company is run.
Can I invest in SpaceX before the IPO?
You can’t buy SpaceX shares directly yet — it’s a private company. Be wary of anyone claiming otherwise. Some funds offer exposure through private equity holdings, or special purpose vehicles (SPVs), but this isn’t the same as owning the individual stock.
Several exchange-traded funds on Hatch currently have exposure to SpaceX in their holdings, for example:
- ERShares Private‑Public Crossover ETF (XOVR) – 23.73% exposure via an SPV.
- DestinyTech100 (DXYZ) – 16.2% exposure via an SPV.
- Baron First Principles ETF (RONB) – Directly owns Class A and Class C shares, around 8% of its total holdings.
🚨 Important: Owning SpaceX through an ETF before the IPO is not the same as owning the stock directly. After an IPO, ETF exposure may change as funds rebalance, sell down, or exit positions. Check the rules of each ETF before you invest.
What is an IPO, and what do I need to know before I buy into one?
An initial public offering (IPO) is a company’s first sale of shares to the public. New shares are created and sold to raise money. There can be lots of uncertainty surrounding IPOs, and share prices can change rapidly, so it pays to understand how the IPO process works before deciding to invest.
📰 We’ve covered a lot of initial public offerings in our newsletter over the years, read about what happened during recent initial public offerings to get a feel for how the share markets could react.
From the archives: Space Race: 10,000 satellites orbiting Earth just the start
We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.
.png)