A majority of shareholders in SpaceX have voted to approve a 5-for-1 stock split recommended by the company's board of directors, according to individuals familiar with the matter. Shareholders were notified by email that the company's fair market value per share has been adjusted to approximately $105.32 from a prior pre-split valuation of $526.59.
Those familiar with the decision said it reflects a formal reorganization of the company’s share structure as SpaceX moves closer to a potential initial public offering. One of the sources said the update was communicated directly to stakeholders by email. The details of the arrangement have not been independently verified, and SpaceX did not immediately respond to requests for comment outside of regular corporate business hours.
The corporate action comes at a time of heightened operational activity for the aerospace manufacturer. On Friday evening, SpaceX launched its Cargo Dragon spacecraft on the CRS-34 commercial resupply mission for NASA from Cape Canaveral Space Force Station in Florida. The mission lifted off atop a Falcon 9 rocket after two earlier weather-related delays during the week.
The Cargo Dragon on CRS-34 carries roughly 6,500 pounds of science experiments and crew supplies bound for the International Space Station. The successful liftoff follows the schedule adjustments prompted by weather and represents one element of the company’s ongoing manifest of government and commercial missions.
At the same time, the company is preparing for the first flight of its Starship Version 3 (V3) megarocket. The test is currently targeted for Flight 12 no earlier than Tuesday, May 19, and will launch from SpaceX’s Starbase facility in South Texas. The upcoming flight will be the first to employ the redesigned V3 architecture.
SpaceX’s V3 design is five feet taller than previous versions and incorporates integrated Raptor 3 engines. Those engines increase total liftoff thrust to more than 18 million pounds while reducing vehicle weight in an effort to advance full and rapid reuse objectives.
Market context
- Share reorganization updates are being communicated to shareholders as the company advances toward an IPO.
- Operational milestones include the CRS-34 Cargo Dragon mission and an upcoming Starship V3 test flight.
- Fair market value per share was adjusted from $526.59 to about $105.32 following the split approval.
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