Elon Musk-led SpaceX has reportedly selected investment bank Goldman Sachs Group Inc. (NYSE:GS) as the lead underwriter for the commercial space flight company’s upcoming IPO.



<h2>Goldman Sachs Secures Key Position</h2>



On Tuesday, Reuters reported that Goldman was selected as the bank to lead the IPO, citing anonymous sources familiar with the matter. The report also said that both Goldman and investment bank Morgan Stanley (NYSE:MS) would be leading the IPO.



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Bank of America Corp (NYSE:BAC), Citigroup Inc. (NYSE:C) and JPMorgan Chase &amp; Co. (NYSE:JPM) are also among the leaders in the IPO, the report said, adding that SpaceX could release its IPO prospectus on Wednesday.



SpaceX and Goldman Sachs didn’t immediately respond to Benzinga‘s request for comment.



<h2>BlackRock On SpaceX IPO</h2>



The IPO, which is touted to be among the largest initial public offerings of all time, has targeted raising over $75 billion via the listing. BlackRock Inc. (NYSE:BLK) is considering a multi-billion-dollar investment in the upcoming IPO, with the company reportedly targeting investing $5 billion and $10 billion.



Musk had earlier confirmed that the company would be targeting a valuation of $1.75 trillion in the June IPO, with the company’s shares to reportedly be listed on the Nasdaq. Nasdaq also announced a series of rule changes that could expedite SpaceX’s entry into the Nasdaq 100 index.



<h2>SpaceX IPO Structure Draws Ire</h2>



SpaceX’s dual-class share structure for the IPO has drawn criticism and concern from pension leaders like New York City and State’s comptrollers, as well as the CEO of the California Public Employees' Retirement System (CalPERS). The officials have accused SpaceX of incorporating a “management-favorable governance structure.”



The leaders also flagged concerns with CEO compensation packages for Musk from SpaceX and Tesla Inc. (NASDAQ:TSLA), saying that it could lead to competition between the two companies.



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SpaceX IPO Prospectus Could Reportedly Drop Next Week—Here's A Peek Into What Investors May Be Buying At Astronomical Valuations




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SpaceX has chosen Goldman Sachs as the lead underwriter for its upcoming IPO, with Morgan Stanley also involved. The IPO aims to raise over $75 billion, potentially making it one of the largest ever. BlackRock is considering a significant investment, while concerns have been raised about SpaceX's dual-class share structure and CEO compensation packages. The IPO prospectus is expected to be released soon.

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MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

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BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

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BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

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BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

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JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

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Elon Musk's SpaceX Picks Goldman Sachs To Lead What Could Be The Biggest IPO Ever: Report