00:00Well, a bit of a whirlwind few days. So we report it's $135 a share, 556.5 million shares. Do
00:08the math. They'll raise $75 billion. That's not how this typically works in an IPO process. Why?
00:14No. Typically, a company that's looking to list in the U.S. markets is going to look at a range.
00:21They're not going with a firm number like this $135 that you're referencing.
00:26And that's because in the next week or so, there's a lot of things that could change. This is supposed
00:31to be a marketing process.
00:32But locking in a price of $135 a share is giving some sort of certainty. It's giving a signal to
00:39the market of what to expect.
00:41We're expecting that next week by around the 11th is when we could see these SpaceX shares come to market.
00:49But even leading up to it, it's just another indication of the difference in the approach that SpaceX and Musk's
00:58team are taking at this time.
00:59I mean, there is some precedent for doing it this way, Catherine, just not of this size, right?
01:04Absolutely. So smaller companies can take this route that SpaceX is looking like it will.
01:10But it is not typical for a company, especially given that this is supposed to be the largest listing on
01:18record.
01:19So it's taking just some unconventional routes. But you're absolutely right.
01:23It's not the first time or likely the last, especially for companies of smaller sizes.
01:28So let's take a look.
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