SpaceX, led by Elon Musk, has warned investors that it may issue a "significant amount of capital" as part of transactions following its upcoming IPO. This new clause appeared in a formal amendment to the company's IPO filing released last month. Industry experts link this to rumors that Musk plans to eventually merge his space and artificial intelligence projects with Tesla. This is reported by Techcrunch.com reports.
SpaceX has been quite active in M&A processes recently. Last year, Musk's xAI company was integrated, and recently a deal was signed allowing for the acquisition of the startup Cursor for $60 billion in shares after the IPO. The company aims to raise $75 billion after listing on the Nasdaq, but part of it will be directed toward covering the debts of xAI and the X platform.
The warning in the document seems intended to prepare investors for the possibility of significant share dilution. Such a situation could occur, especially in the event of a major merger with Tesla. Although such a deal would require strict oversight by legal and regulatory bodies and a vote by Tesla shareholders, all decisions on the SpaceX side remain solely at Musk's discretion.
The company's shares are divided into three main classes, which allows Elon Musk to maintain control. While publicly traded Class A shares carry one vote, Class B shares, owned exclusively by Musk, grant 10 votes each. There are also Class C shares with no voting rights, which Musk can use to acquire other companies without diluting his management power.
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