After much speculation, it looks like it’s finally happening. The well-anticipated public offering of Elon Musk’s rocket launch company, SpaceX, has been announced. According to multiple reports, it’s likely to happen in June of this year. Here’s what interested investors need to know about it in the meantime before deciding whether to buy a stake in the newly minted stock.

The stock’s IPO price isn’t finalized yet; it doesn’t need to be finalized until immediately before its first sales to investors. As it stands right now, the estimated price puts SpaceX’s total market value somewhere in the ballpark of $1.75 trillion to $2 trillion.

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The valuation based on the presumed price of soon-to-be-issued SpaceX shares is around $1.75 trillion, but the company won’t actually be selling anywhere near that much stock. The expectation is for only $75 billion worth of shares to be made available. The rest will continue being privately held by founders, insiders, and others who made early non-publicly-traded investments in the organization.

It’s still an outrageous valuation for a space launch service, an industry that Precedence Research believes will grow to only $70 billion per year by 2035. But SpaceX isn’t just rockets. The company also owns satellite-based broadband service Starlink as well as (following February’s merger) artificial intelligence technology outfit xAI, which also owns the social networking platform formerly known as Twitter and its AI-powered chatbot Grok.

As is the case with most initial public offerings, the bulk of any SpaceX shares sold by investment bankers directly will go to institutions and accredited investors, who then may or may not choose to sell them on the open market after a set holding period required by law.

There is some buzz, however, that nearly one-third of whatever shares are being made available will be earmarked specifically for direct sale to small retail investors. It remains to be detailed exactly how that might work.

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