PART 53 / 63 spaceX招股书

风险因素重述 + 资本市场信息（IPO 规模 / 招股价格 / 中间承销商）

ENGLISH · ORIGINAL

Risk factors ........................................................ Please refer to "Risk Factors" for a discussion of the risks and uncertainties that could materially and adversely affect our business, financial condition, results of operations, and future prospects. Selling stockholder ............................................ shares of our Class A common stock (or shares if the underwriters exercise their option to purchase additional shares of Class A common stock in full). The Company will not receive any proceeds from the sale of shares of Class A common stock by the selling stockholder. Use of proceeds ............................................ We expect to receive net proceeds from this offering of approximately $ million (or $ million if the underwriters exercise their option to purchase additional shares of Class A common stock in full), assuming an initial public offering price of $ per share, the midpoint of the price range set forth on the cover page of this prospectus, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. We intend to use the net proceeds from this offering to fund our growth strategy, including the expansion of our AI compute infrastructure, enhancements to our launch infrastructure and launch vehicles, and increases in the scale and capacity of our satellite constellations. Please refer to "Use of Proceeds." Listing ............................................ We have applied to list our Class A common stock on the Nasdaq Global Select Market and the Nasdaq Texas securities exchange under the symbol "SPCX." Nasdaq Texas is a new national securities exchange that is affiliated with Nasdaq. We expect that trading will commence on the Nasdaq Global Select Market prior to the commencement of trading on Nasdaq Texas. The shares of Class A common stock will be the only class of our common stock listed on either exchange. We expect that the shares will be listed on the Nasdaq Global Select Market under the symbol "SPCX." 20 Table of Contents Lead bookrunner ............................................ Morgan Stanley Joint bookrunners ......................................... Morgan Stanley, JPMorgan, Goldman Sachs, Bank of America, Citigroup, Allen & Company, Barclays, Deutsche Bank, Jefferies

中文翻译

风险因素重述 + 资本市场信息（IPO 规模 / 招股价格 / 中间承销商）

风险因素（Risk factors） 请参阅招股书其他章节的**"风险因素"（Risk Factors）**——对"可能重大不利影响我们业务、财务状况、经营结果和未来前景"的风险和不确定性的讨论。

售股股东（Selling stockholder）

• _____ 股 A 类普通股（如果承销商完全行使 A 类普通股超额配售权，则为 _____ 股）。

• 公司不会从"售股股东出售 A 类普通股"中获得任何收益。

募集资金用途（Use of proceeds）

• 我们预期——假设首次公开发行价格 = 招股书封面价格区间的中点 = $_____ / 股——扣除承销折扣、佣金和我们应付的估计发行费用后——从本次发行中获得大约 $_____ 百万美元的净募集资金（如果承销商完全行使 A 类普通股超额配售权，则为 $_____ 百万美元）。

• 用途——

• 扩大 AI 算力基础设施；

• 升级发射基础设施和运载火箭；

• 扩大卫星星座规模和容量。

• 请参阅招股书其他章节的**"募集资金用途"（Use of Proceeds）**。

上市（Listing）

• 我们已经申请——在 Nasdaq Global Select Market（纳斯达克全球精选市场）和 Nasdaq Texas（纳斯达克德州证券交易所）——以代码 "SPCX" 上市我们的 A 类普通股。

• Nasdaq Texas——是一家和 Nasdaq 关联的、全新设立的国家证券交易所。

• 我们预期交易将先在 Nasdaq Global Select Market 启动——之后才在 Nasdaq Texas 启动。

• A 类普通股——将是我们唯一在两家交易所上市的股票类别——股票代码 "SPCX"。

主簿记管理人（Lead bookrunner）

• Morgan Stanley（摩根士丹利）

联合簿记管理人（Joint bookrunners）

• Morgan Stanley, JPMorgan, Goldman Sachs, Bank of America, Citigroup, Allen & Company, Barclays, Deutsche Bank, Jefferies

• 摩根士丹利、摩根大通、高盛、美银、花旗、Allen & Company、巴克莱、德意志银行、杰富瑞

📝 翻译者注

• "SPCX"：这是 SpaceX 上市的特殊 ticker——一般上市公司代码 4 个字母——"SPCX" 是 SpaceX 的"缩写"——Nasdaq 专门开了"4 字母 ticker"的便利给 SpaceX。

• "Nasdaq Texas"：2026 年 5 月正式启动的新交易所——和 Nasdaq 体系挂钩——因为Musk 系公司大多从特拉华迁到德州——Nasdaq 专门给"德州"开个交易所——这是个很新的金融基础设施。

• "9 家承销商 + Morgan Stanley 领衔"：典型的"巨型独角兽 IPO"配置——Morgan Stanley 在 Musk 系 IPO 中一直是 lead（Tesla 2010、Twitter 2013 都是 Morgan Stanley 牵头）。

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