BlackRock placed an order for at least $5 billion in SpaceX’s initial public offering, according to The Wall Street Journal. The move positions the world’s largest asset manager as a potential anchor investor in what is expected to be the largest public offering in history.
SpaceX aims to raise approximately $75 billion through the deal. This target would value the aerospace and AI company between $1.75 trillion and $1.8 trillion.
Investor demand has significantly exceeded the available share supply. While the current order is $5 billion, reports from May indicated BlackRock previously considered an investment of up to $10 billion.
The IPO is expected to price on June 11. Shares are scheduled to begin trading on the Nasdaq on June 12.