SpaceX Announces 5-for-1 Pre-IPO Stock Split — Pre-Split Price $526.59, Post-Split Target ~$105.32, Processing May 18–22

On May 16, 2026, SpaceX announced a 5-for-1 stock split ahead of its planned June Nasdaq IPO, adjusting the fair market value per share from approximately $526.59 to approximately $105.32 per share. The split processing is expected to be completed between May 18 and May 22, ahead of the public S-1 prospectus filing window (opened May 15 under SEC 15-day rule) and the management roadshow targeting the week of June 8. The stock split is designed to lower the per-share entry price for retail investors, consistent with SpaceX's stated goal of a 30% retail allocation — approximately three times the industry norm for large IPOs. SpaceX filed a confidential IPO registration statement with the SEC on April 1, 2026 (internally codenamed 'Project Apex'), targeting a raise of approximately $75 billion on Nasdaq with Morgan Stanley and Goldman Sachs as lead underwriters among 21 banks. Target valuation has been reported at $1.75 trillion to over $2 trillion, which would make the SpaceX IPO the largest in U.S. history by a significant margin, surpassing Saudi Aramco's 2019 record of $29.4 billion. The IPO pricing window remains targeted for June 18–30, 2026. The stock split follows the SpaceX–xAI merger finalized earlier in 2026, which combined SpaceX's satellite internet infrastructure with Musk's AI company under one corporate entity. Analysts note the split is consistent with other major pre-IPO companies (Airbnb, Snowflake) that reduced per-share prices to broaden their investor base ahead of a public debut.