US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>SpaceX filed one of the most anticipated IPOs ever, combining dominant space launch, global connectivity, and rapidly scaling AI infrastructure assets.</li>
<li>Starlink drives profitability and cash flow, while aggressive investments in Starship and AI position SpaceX for massive long-term market expansion.</li>
<li>SpaceX’s vertically integrated ecosystem spanning rockets, satellites, AI compute, Grok, and X creates a differentiated platform targeting a claimed $28.5 trillion TAM.</li>
</ul>


SpaceX filed one of the most anticipated IPOs ever, combining dominant space launch, global connectivity, and rapidly scaling AI infrastructure assets.
Starlink drives profitability and cash flow, while aggressive investments in Starship and AI position SpaceX for massive long-term market expansion.
SpaceX’s vertically integrated ecosystem spanning rockets, satellites, AI compute, Grok, and X creates a differentiated platform targeting a claimed $28.5 trillion TAM.


SpaceX (SPCX US): Peeking at the IPO Prospectus of a High Profile Space Infrastructure Company

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>SpaceX (SPCX US) finally provided the IPO prospectus. The company is seeking to raise up to $75 billion in this IPO at a valuation of about $1.75 trillion.</li>
<li>One of the major highlights of the prospectus was SpaceX's ambitious ambitious roadmap to build data centers in space.</li>
<li>At the core of the argument behind valuation of $1.75 trillion+ is whether enough investors believe in the story of SpaceX being able to dominate the orbital data center business. </li>
</ul>


SpaceX (SPCX US) finally provided the IPO prospectus. The company is seeking to raise up to $75 billion in this IPO at a valuation of about $1.75 trillion.
One of the major highlights of the prospectus was SpaceX's ambitious ambitious roadmap to build data centers in space.
At the core of the argument behind valuation of $1.75 trillion+ is whether enough investors believe in the story of SpaceX being able to dominate the orbital data center business. 


Get Ahead with IPO Insights, IPO Prophet

IPO Prophet

Get Ahead with IPO Insights

At IPO Prophet®, our team leverages over three decades of expertise to deliver actionable quantitative analytics for the IPO market in real-time. This platform synthesizes our extensive experience investing in IPOs, providing investors with revolutionary tools to navigate the complexities of issuance day. Our mission is to empower investors with data-driven insights to make more informed decisions.

<ul><li>Space Exploration Technologies Corp. (SPCX) officially filed its S-1 registration statement today to go public on Nasdaq, marking one of the most anticipated IPO filings in market history.</li><li> The proposed offering is being led by Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, and J.P. Morgan, alongside one of the largest underwriting syndicates assembled for a public offering in recent memory.</li><li>The filing formally launches what is expected to become one of the most closely followed IPO processes the market has seen in years, and IPO Prophet will be providing extensive coverage throughout the offering process leading up to pricing and public trading.</li></ul>

Space Exploration Technologies Corp. (SPCX) officially filed its S-1 registration statement today to go public on Nasdaq, marking one of the most anticipated IPO filings in market history. The proposed offering is being led by Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, and J.P. Morgan, alongside one of the largest underwriting syndicates assembled for a public offering in recent memory.The filing formally launches what is expected to become one of the most closely followed IPO processes the market has seen in years, and IPO Prophet will be providing extensive coverage throughout the offering process leading up to pricing and public trading.

SpaceX Officially Files for IPO as IPO Prophet Begins Extensive SPCX Coverage

<ul>
<li>SpaceX now plans to list on the NASDAQ on 12 June. The company is expected to raise $80 billion or more in this capital raise (largest ever in the world).</li>
<li>After SpaceX, the two other mega IPOs that are expected to be completed in 2H 2026 include Anthropic and OpenAI. </li>
<li>Although SpaceX's valuation has not been finalized, it is expected that the SpaceX IPO could fetch about $1.75 trillion to $2.0 trillion, representing P/S (not P/E) of nearly 100x. </li>
</ul>


SpaceX now plans to list on the NASDAQ on 12 June. The company is expected to raise $80 billion or more in this capital raise (largest ever in the world).
After SpaceX, the two other mega IPOs that are expected to be completed in 2H 2026 include Anthropic and OpenAI. 
Although SpaceX's valuation has not been finalized, it is expected that the SpaceX IPO could fetch about $1.75 trillion to $2.0 trillion, representing P/S (not P/E) of nearly 100x. 


Hedge Fund News, Information and Data, Hedge Fund Alpha

Hedge Fund Alpha

Hedge Fund News, Information and Data

We focus on hedge funds with a bias towards emerging managers, specifically fundamental long-short managers. We are known for a lot of insights and exclusives on hedge fund letters, coverage of industry conferences, and interviews with investors and interesting service providers.

Thematic (Sector/Industry)

<ul><li>Green Ash Horizon Fund fell 10.02% in July, sharply underperforming the MSCI World’s 0.51% gain as a broad momentum unwind hit technology and AI-related stocks.</li><li>The sell-off proved particularly severe in semiconductors, which fell 20% after gaining 88% over the preceding three months.</li><li>Despite the correction, hedge fund manager James Sanders remains constructive on the fundamental outlook and continues to see strong long-term potential in AI infrastructure.</li></ul>

Green Ash Horizon Fund fell 10.02% in July, sharply underperforming the MSCI World’s 0.51% gain as a broad momentum unwind hit technology and AI-related stocks.The sell-off proved particularly severe in semiconductors, which fell 20% after gaining 88% over the preceding three months.Despite the correction, hedge fund manager James Sanders remains constructive on the fundamental outlook and continues to see strong long-term potential in AI infrastructure.

Green Ash Horizon Fund Falls 10% in July as AI and Semiconductor Momentum Reverses

United States

Space Exploration Technologies Corp., doing business as SpaceX, operates as an aerospace manufacturer and space transportation services company. The Company designs and manufactures rockets, human spaceflight, and global satellite internet services. SpaceX serves customers worldwide.

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SpaceX (SPCX US)

SpaceX (SPCX US): Peeking at the IPO Prospectus of a High Profile Space Infrastructure Company

SpaceX's highly anticipated IPO combines space launch, global connectivity, and AI assets, driving profitability and positioning the company for...

IPO Boutique

SpaceX IPO Preview

At the core of the argument behind valuation of $1.75 trillion+ is whether enough investors believe in the story of SpaceX being able to dominate...

Douglas Kim

SpaceX Officially Files for IPO as IPO Prophet Begins Extensive SPCX Coverage

Space Exploration Technologies Corp. (SPCX) officially filed its S-1 registration statement today to go public on Nasdaq, marking one of the most...

IPO Prophet

Initial Thoughts on the SpaceX IPO

SpaceX now plans to list on the NASDAQ on 12 June. The company is expected to raise $80 billion or more in this capital raise (largest ever in the...

Douglas Kim

Green Ash Horizon Fund Falls 10% in July as AI and Semiconductor Momentum Reverses

Green Ash Horizon Fund fell 10.02% in July, sharply underperforming the MSCI World’s 0.51% gain as a broad momentum unwind hit technology and...

Hedge Fund Alpha

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52-week Range

Market Cap (USDm)

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SpaceX (SPCX US): Peeking at the IPO Prospectus of a High Profile Space Infrastructure Company

​SpaceX's highly anticipated IPO combines space launch, global connectivity, and AI assets, driving profitability and positioning the company for...

IPO Boutique

SpaceX IPO Preview

At the core of the argument behind valuation of $1.75 trillion+ is whether enough investors believe in the story of SpaceX being able to dominate...

Douglas Kim

SpaceX Officially Files for IPO as IPO Prophet Begins Extensive SPCX Coverage

Space Exploration Technologies Corp. (SPCX) officially filed its S-1 registration statement today to go public on Nasdaq, marking one of the most...

IPO Prophet

Initial Thoughts on the SpaceX IPO

SpaceX now plans to list on the NASDAQ on 12 June. The company is expected to raise $80 billion or more in this capital raise (largest ever in the...

Douglas Kim

Green Ash Horizon Fund Falls 10% in July as AI and Semiconductor Momentum Reverses

Green Ash Horizon Fund fell 10.02% in July, sharply underperforming the MSCI World’s 0.51% gain as a broad momentum unwind hit technology and...

Hedge Fund Alpha

SpaceX's highly anticipated IPO combines space launch, global connectivity, and AI assets, driving profitability and positioning the company for...