SpaceX (SPAX.PVT) is barreling towards its initial public offering, and it is trying to make its stock even more attractive with a stock split before it even debuts.

Bloomberg reported over the weekend that SpaceX told its investors it will implement a 5-for-1 stock split, a move that would potentially reduce the price of the stock ahead of its IPO.

SpaceX informed shareholders that the current fair market value per share has been adjusted to about $105.32 from $526.59 as a result of the split, per Bloomberg sources.

The stock split will be processed this week and is expected to be officially completed by May 22, the sources said.

News of the split comes as SpaceX is quickly headed toward the public markets. On Friday, Reuters reported that SpaceX is planning to price its IPO as early as June 11, with the rocket company listing on the Nasdaq starting on June 12.

The acceleration of the IPO timeline means the company is aiming to publicly disclose its IPO prospectus (S-1 filing) as ​early as this Wednesday, with investor roadshows starting on June 4, per Reuters sources.

SpaceX is required to file its prospectus publicly 15 days before its roadshow begins. The roadshow kicks off the process in which SpaceX and its underwriters pitch the offering to large investors and brokerages, finalizing the IPO price before the actual public debut of the stock.

SpaceX had already confidentially filed its S-1 with the SEC in April to obtain feedback on its upcoming IPO. At the time, SpaceX was reportedly targeting to raise as much as $75 billion in its offering, with a valuation nearing $1.8 trillion, easily topping companies like CEO Elon Musk’s Tesla (TSLA), which has a market cap of about $1.4 trillion.

Pras Subramanian is the Lead Transportation Reporter for Yahoo Finance. You can follow him on X and on Instagram.

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