Jamie Dimon is gathering his wealthiest clients for a conversation about what could be the most consequential public offering in a generation. The JPMorgan Chase CEO is scheduled to host an interactive discussion on June 5 at the bank's New York headquarters, centered on SpaceX's upcoming IPO.
The guest list includes SpaceX President Gwynne Shotwell and CFO Bret Johnsen, joining Dimon alongside JPMorgan asset & wealth management head Mary Callahan Erdoes. Thousands of ultra-high-net-worth clients are expected to tune in.
SpaceX filed a public prospectus with the SEC on May 20, revealing plans to list on the Nasdaq under the ticker SPCX. The company is targeting IPO proceeds of $75-80 billion, which would make it one of the largest public offerings ever.
Approximately 555.6 million shares priced at $135 each imply a valuation between $1.5 trillion and $2 trillion. A syndicate of about 23 banks, including JPMorgan, Goldman Sachs, Morgan Stanley, Bank of America, and Citigroup, will underwrite the deal. Marketing efforts begin around June 8.
Dimon has been publicly enthusiastic about SpaceX. At the Reagan National Economic Forum, he called it investing in "stuff that will change humanity for the better." He recently visited SpaceX's facilities.
At a $1.5-2 trillion valuation, SpaceX would instantly rank with Apple, Microsoft, and Nvidia among the world's most valuable public companies. The IPO's size-raising up to $80 billion-could absorb significant capital, potentially causing institutional investors to trim other tech and growth positions.