BlockBeats report, June 2: In its latest updated IPO filing, SpaceX added a risk disclosure stating that the company may issue "significant equity" in future transactions, sparking market interest in its potential merger and acquisition plans and the possibility of a merger with Tesla.
The related statement has been added to the risk factors section of the IPO filing, stating: "The company may issue a substantial amount of equity in future transactions." Analysts believe this wording not only leaves room for future acquisition deals but may also serve as an early warning to investors about a potential significant equity dilution event.
In recent years, SpaceX has continued to advance its mergers and acquisitions expansion. The company previously completed the acquisition of xAI, Musk’s AI company, and reached an agreement with the AI programming firm Cursor, which holds an option to sell shares worth $60 billion to SpaceX following SpaceX’s public listing.
For years, speculation has circulated that Musk may push for a merger between SpaceX and Tesla. Recent reports suggest that SpaceX’s IPO has further intensified these discussions. Should a merger occur in the future, it would face multiple challenges, including regulatory approval, legal procedures, and shareholder votes from Tesla.
According to IPO filings, SpaceX currently employs a multi-class share structure: Class A shares, offered to the public, carry one vote per share; Class B shares, held by Musk, carry ten votes per share; and Class C shares have no voting rights. Analysts believe that even if SpaceX conducts large acquisitions through issuing new shares in the future, Musk will retain the ability to maintain control of the company.
Previously, market reports suggested that SpaceX is expected to raise approximately $75 billion through its Nasdaq listing, making it one of the largest tech IPOs in recent years.