The SpaceX IPO is effectively closed to new requests.
That means a little-known backdoor to the SpaceX IPO is one of the only ways to invest before IPO day.
Go here for urgent details – it ends tomorrow.
SpaceX — set to be the largest IPO in market history — is scheduled to begin trading on Nasdaq under the ticker SPCX on Friday, June 12.
As of Wednesday, June 10, the major brokers shut off indications of interest for the offering. Fidelity, Schwab, Robinhood, SoFi, and E*Trade all had a standard cutoff of 4:00 PM ET.
If you submitted a request before that deadline, you're in the pool. Allocations get decided after pricing — likely the night of June 11 or the morning of June 12.
If you didn't submit a request, you likely can't get an allocation at the $135 IPO price. That door is closed.
Here's the scale of the deal. SpaceX is targeting roughly $75 billion raised at $135 a share, which would put the valuation near $1.77 trillion.
Demand has been heavy. Even investors who did request shares may receive a small allocation, or none at all. It works like a lottery, and you won't get more than you asked for.
The IPO is 4x oversubscribed. That means for every 1 share available – there are orders for 4 shares of stock.
Here’s how to invest – 24 hours before the IPO.
Put another way – investors who requested IPO shares have a 25% likelihood of an allocation.
For anyone who missed the cutoff, there are really two options.
You can wait for shares to open Friday and buy in the market. The opening price could come at a sizable premium to the $135 price.
Or there's another route to a SpaceX stake before Friday — one that doesn't depend on a broker allocation at all. It's how I got positioned ahead of the listing.
Go here to watch my video with instructions.
Ian Wyatt
Editor, IPO Watch