Elon Musk announced plans Wednesday for one of the biggest sales of stock to the public ever for his space company that is currently losing billions of dollars year.

If you’re headed out for a long weekend and yearning for a good beach read, consider this buzzy title: Form S-1 Registration Statement Under the Securities Act of 1933: Space Exploration Technologies Corp.

After nearly a quarter of a century operating as a private company, with its financial accounts a closely guarded secret, SpaceX on Wednesday afternoon released a detailed accounting of its business in a nearly 400-page S-1 filing with the US Securities and Exchange Commission.

SpaceX is targeting an IPO valuation near $1.75 trillion against total revenue of roughly $18 billion. That gap is a major part of the SpaceX investment thesis. To justify it, public investors need to believe in something far larger than today’s launch business and Starlink subscriber base.

SpaceX is seeking to sell stocks on Nasdaq and Nasdaq Texas in what could be the world’s largest IPO, unlocking cash that could generate more jobs, home sales, startup companies and tax revenues in Texas.

In a post on X earlier this week, realtor Jim Keaty of Keaty Real Estate (tagline: "Louisiana's most innovative real estate team") is cited as claiming that "SpaceX may have acquired or is acquiring 136k acres (212 sq miles) of marshland" on the Louisiana coast.

SpaceX, a leader in rocket launches, lost billions of dollars in recent years after a merger with Musk's artificial intelligence venture, xAI.