By Miguel Mike Medina
Photo Credit: Michael Yanow/NurPhoto via Getty Images
JPMorgan to host SpaceX IPO event next week for Friday, June 12th.
Longtime JPMorgan CEO Jamie Dimon at JPMorgan’s Manhattan headquarters. Dimon and Musk are two successful business leaders. It’s going to be an interesting conversation between the two men, who are very firm and extremely hardworking.
On Thursday, however, they did get to have some small talk, but Musk joined remotely. Dimon praises Musk by calling him the “Thomas Edison of our time.” Maye Musk, Elon’s mother, made a special guest appearance. There were 3,500 attendees at the investor event road show at JPMorgan’s New York HQ.
S&P 500 denies SpaceX entry. S&P Global put out a statement saying the following:
“No changes will be made to the eligibility criteria, including financial viability screens, seasoning period, or minimum IWF, for the S&P 500, S&P MidCap 400, or S&P SmallCap 600.”
Will companies stay private in the long term? With SpaceX going IPO, it wouldn’t be a surprise if more companies remain private. Companies will want to avoid risks and avoid dealing with shareholders.
SpaceX COO Gwynne Shotwell and CFO Bret Johnson will also be present at the IPO event. SpaceX plans to raise at least $75 billion. That’s the size of the IPO. The fixed price is at $135 per share, and 555.6 million shares are offered.
According to Yahoo Finance, “SpaceX has lined up JPMorgan, Bank of America, and 21 other banks for the IPO, with Goldman Sachs (GS) and Morgan Stanley (MS) taking lead positions.”
Fidelity has expressed their thoughts on SpaceX shares. The brokerage company said that investors would need just $2,000 in their brokerage account to access the space company.
Many investors plan to invest in SpaceX after the IPO is settled.
Miguel Mike Medina is the publisher of The MMM Journal. He can be reached at medinamiguelmike@gmail.com and themmmjournal@gmail.com
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