BlockBeats message, April 2, Mergermarket’s Sam Kerr said that the ongoing market slump triggered by the Middle East war could weaken the scale of SpaceX’s first public offering (IPO). Falls in U.S. stock indexes will limit the company’s room to choose an issuance window. The Wall Street Journal reported that a confidential filing submitted to the U.S. Securities and Exchange Commission shows that SpaceX is poised to go public in July.
“Issuing any deal in a weak market—no matter how good the company is—will limit the valuation you can achieve,” Kerr said. He added that the expected size of the IPO itself also increases the challenges SpaceX faces, though Musk may be banking on retail investor participation to boost demand. (Jin10)
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