SpaceX has filed a revised S-1 listing document with the U.S. Securities and Exchange Commission. The company disclosed that the document adds several details to its proposed initial public offering (IPO), with plans to list on Nasdaq under the ticker symbol SPCX, on a projected date of June 12, 2026.
Valuation target lowered to $1.8 trillion
Revised documents show that SpaceX has adjusted its target valuation to at least $1.8 trillion, down from the $2 trillion ceiling mentioned in the initial prospectus. The report notes that this adjustment is related to investor feedback on valuation levels, capital expenditures, and the company's projected net loss of $4.94 billion in 2025.
Supplemental disclosure of the Anthropic contract
The company also provided details of its computing power leasing agreement with Anthropic. The documents show that the arrangement involves approximately 325,000 Nvidia GPUs, along with hyperscale CPUs, exabytes of storage, and high-speed network interconnects.
The revised document states that the agreement can be cancelled by either party with 90 days' notice after the initial three months. This means that the related revenue is not locked indefinitely, but depends on whether the contract continues to be executed.
New Starlink clients and Bitcoin holdings
The revised document now discloses American Airlines as a Starlink customer. Starlink remains one of SpaceX's core commercial businesses, covering the consumer, enterprise, aviation, maritime, and government satellite internet markets.
The company disclosed that its initial IPO filing listed $1.45 billion worth of Bitcoin on its balance sheet. The revised filing also states that SpaceX may issue additional equity in future acquisitions, divestitures, or other strategic transactions.
Dispute Resolution Terms Update
The document also states that if a court refuses to transfer an internal dispute to a commercial court and is subsequently found to lack jurisdiction, the arbitration clause will not be triggered, and the matter will need to be dismissed first before being submitted to a court with appropriate jurisdiction.
- Expected listing location: Nasdaq
- Proposed stock code: SPCX
- Expected launch date: June 12, 2026
