Gate News, a message: On April 1, according to people familiar with the matter disclosed on Tuesday, SpaceX is working with at least 21 banks to prepare for its IPO—one of the largest underwriting syndicates in recent years. The IPO has an internal code name of “Apex” and is expected to take place in June, with a valuation of $1.75 trillion, making it poised to become one of the most closely watched stock market debuts on Wall Street. People familiar with the matter said that Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup are serving as active bookrunners—that is, the banks leading the transaction. An additional 16 banks have signed on to take on smaller roles, roughly half of which have not previously appeared in reports. The underwriting syndicate’s size highlights the scale and complexity of the proposed offering plan.