SpaceX shareholders accept 5-for-1 stock split: Bloomberg News

A majority of SpaceX shareholders have accepted a 5-for-1 stock split that the company’s board suggested, individuals familiar with the situation told Bloomberg News on Friday.

Shareholders of SpaceX, which was preparing for an initial public offering (IPO), received an email informing them that the fair market value of the shares was changed to $105.32 per share from $526.59 after the split, the article stated.
The stock split will be executed during the week of May 18 and is scheduled to be completed by May 22, Bloomberg reported.

Elon Musk’s rocket and satellite company SpaceX is targeting a listing as soon as June 12 and has selected the Nasdaq as the trading venue for its big market debut, Reuters reported exclusively on Friday.

The company is expected to try to raise over $75 billion at a valuation of around $1.75 trillion making it the biggest stock market IPO in history, Reuters has reported earlier.

SpaceX did not immediately reply to a request for comment outside of normal business hours.