JPMorgan Chase CEO Jamie Dimon will personally pitch SpaceX’s $75 billion IPO to over 2,500 of the bank’s wealthiest clients this week — the largest retail investor event the bank has ever hosted.
Dimon and senior executives Mary Erdoes and Marianne Lake are hosting the event from JPMorgan’s New York headquarters. SpaceX Chief Operating Officer Gwynne Shotwell and CFO Bret Johnsen will also attend.
The event will be broadcast to wealthy clients across 90 locations in 26 states, including JPMorgan branch locations — a scale unprecedented for a Wall Street IPO pitch.
“SPACEX SET AN IPO PRICE OF $135 PER SHARE — BYPASSING TRADITIONAL WALL STREET PRICE-DISCOVERY MECHANISMS.”
SpaceX announced the $135-per-share IPO price Wednesday, aiming to raise $75 billion — the largest IPO in history. The deal would value Elon Musk’s company at $1.75 trillion, immediately placing it among the top 10 most valuable U.S.-listed firms.
Major international banks — including Mizuho, Deutsche Bank, UBS, and Barclays — have been directed to line up wealthy individual buyers in their home countries.
Investors are scrambling to secure positions in the deal, drawn by Musk’s track record and the potential for the offering to generate millions in fees for Wall Street firms.
Banks typically host roadshows to sound out institutional investors and arrive at a price range. An event focused on retail participation at this scale is highly unusual.
JPMorgan is one of the banks in the vast syndicate working on the SpaceX IPO.
