SpaceX Leaves Some Banks Peeved at Junior Roles in IPO Li…

SpaceX is preparing for a landmark IPO with targeted funding of $75 billion. The offering has been reported as more than four times oversubscribed, highlighting strong investor interest. The IPO process is putting Elon Musk's interconnected businesses under scrutiny, raising questions about his financial empire. Additionally, several junior banks involved in marketing the shares are reportedly receiving low fees and are placed in less prominent roles, such as co-managers, which have limited influence or credit in the offering.

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People walk outside a SpaceX facility in Hawthorne, California.Photographer: Mario Tama/Getty Images

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By Liana Baker, Anthony Hughes, and Sridhar Natarajan

June 10, 2026 at 6:14 PM UTC

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Several junior banks marketing shares in SpaceX’s landmark listing are working for relatively small fees and being relegated to roles that don’t come with any credit, according to people familiar with the matter.

Some of the banks listed on the lower lines in the SpaceX filing were informed in recent weeks that they had been appointed as co-managers, the lowest rung of broker on an initial public offering, the people said, asking not to be identified because the matter is private. The banks that were notified include Societe Generale and Mizuho Financial Group Inc., the people said.

Read Original at Bloomberg →

SpaceX Leaves Some Banks Peeved at Junior Roles in IPO Lineup