Upcoming Space IPOs
Track potential IPO candidates from private space companies. Last updated: 2026-04-25
SpaceX Files for Historic $1.75T IPO
SpaceX confidentially filed an S-1 with the SEC, targeting the largest US IPO in history — surpassing Saudi Aramco's 2019 record. A June 2026 roadshow is planned.
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IPO Watch List
World's leading launch provider and operator of Starlink satellite internet constellation with 8M+ subscribers
April 2026: SpaceX filed confidentially with the SEC on April 1, 2026, targeting a June 2026 Nasdaq IPO at $1.75T valuation with plans to raise up to $75B. Starlink will remain under SpaceX (no spinoff). Company merged with xAI in February 2026.
- ! Unprecedented valuation multiple (~90x 2025 revenue)
- ! xAI integration complexity
- ! Regulatory scrutiny given Musk's government ties
- ! Market appetite for $1.75T offering
Developer of Dream Chaser spaceplane and commercial space station modules
March 2026: Sierra Space closed a $550M Series C led by LuminArx Capital Management at an $8B valuation, bringing total capital since 2021 to $2B+. IPO timeline pushed beyond 2026; no IPO date set. CEO Tom Vice departed January 2025.
- ! No IPO date set - 2025-2026 window passed without listing
- ! Leadership transition with CEO departure
- ! Dream Chaser delays
- ! High cash burn rate
Building the first commercial space station to succeed the ISS
February 2026: Axiom raised $350M co-led by Qatar Investment Authority and Type One Ventures (with 1789 Capital, where Donald Trump Jr. is a partner), valuing the company above $2.5B per PitchBook estimates. Total funding exceeds $955M.
- ! High capital requirements for station development
- ! ISS retirement timeline uncertainty
- ! Competition from Vast and others
- ! Previous down round in 2025 signals investor caution
3D-printed rocket manufacturer developing Terran R medium-lift launch vehicle
March 2025: Eric Schmidt (former Google CEO) acquired controlling stake in a ~$800M recapitalization (down-round) and became CEO. Company pivoting toward traditional manufacturing and orbital data center infrastructure. Terran R targeting late 2026 debut.
- ! No successful orbital launches yet
- ! Terran 1 test flight failed to reach orbit
- ! Major strategic pivot increases execution risk
- ! Heavy founder dilution from Schmidt takeover
- ! IPO unlikely before successful Terran R flights
Commercial space station developer building Haven-1, the first single-launch commercial station
March 2026: Vast secured $500M ($300M equity + $200M debt) led by Balerion Space Ventures with participation from Qatar Investment Authority, Mitsui, MUFG, and Nikon. Haven-1 structural testing completed. Vast-1 crewed mission targeting June 2026.
- ! Haven-1 launch timeline slipped from 2025 to 2027
- ! Heavy reliance on founder Jed McCaleb
- ! Uncertain commercial demand for stations
- ! Competition from Axiom Space
Developing fully and rapidly reusable rocket with innovative upper stage recovery
February 2026: Stoke closed $350M Series D-II extension, bringing total raised to $1.45B. Working on LC-14 launch pad refurbishment at Cape Canaveral, targeted for activation in early 2026. Nova rocket first flight anticipated later in 2026.
- ! No orbital flights yet
- ! Full system integration not yet demonstrated
- ! Competitive launch market
- ! Heavy capital requirements ahead of revenue
Building ultra-high-power satellites for defense and commercial applications
December 2025: K2 Space raised $250M Series C at $3B valuation led by Redpoint (with T. Rowe Price, Hedosophia, Altimeter, Lightspeed). GRAVITAS, its first Mega Class satellite, launched March 2026. Total raised $426M across all rounds.
- ! No satellites successfully in orbit yet at time of last funding
- ! Dependent on defense contracts
- ! Competitive market for satellite manufacturing
- ! High capital intensity of manufacturing scale-up
In-space transportation and orbital transfer vehicle provider
Successfully deployed customer payloads with Mira OTV. Growing backlog of commercial missions.
- ! Relatively early stage
- ! Capital intensive business
- ! Competition from SpaceX, RocketLab
- ! Dependent on rideshare market growth
In-space manufacturing company producing pharmaceuticals and materials in microgravity
Successfully returned pharmaceutical payload from orbit in 2024. Planning multiple follow-on missions.
- ! Novel business model - in-space manufacturing
- ! Regulatory pathway for pharma manufacturing
- ! Capital intensive operations
- ! Early stage revenue
Space domain awareness and satellite servicing for national security applications
Launched first Jackal spacecraft. Growing defense contract base for space domain awareness.
- ! Dependent on government/defense spending
- ! Crowded defense space market
- ! Early operational history
- ! Classified contract visibility
Recently Public Space Companies
Space companies that have gone public in recent years, primarily through SPAC mergers.
Firefly Aerospace
FLYSmall-to-medium launch provider and lunar services company; first flight to the Moon in 2024
Rocket Lab
RKLBSmall launch provider and spacecraft manufacturer
AST SpaceMobile
ASTSDirect-to-smartphone satellite network
Planet Labs
PLEarth observation satellite constellation operator
Intuitive Machines
LUNRLunar lander and space services company; $4.82B NASA Near Space Network contract
BlackSky
BKSYReal-time geospatial intelligence company
Spire Global
SPIRSatellite data and analytics company
Redwire
RDWSpace infrastructure and manufacturing