Ahead of SpaceX's IPO, institutions are urging the SEC to investigate its financial condition
Svmuureports that advisory firm SOC Investment Group is urging the U.S. SEC to investigate SpaceX's financial condition before its potential IPO, which could be valued at over $2 trillion. The firm claims that SpaceX's relationships with other enterprises under Elon Musk are concerning. According to a letter dated May 6th submitted to the SEC, SOC requests the SEC to review the accuracy and reliability of SpaceX's financial disclosures and ensure the independence of SpaceX's auditors. SOC also urges the SEC to focus on the accounting treatment of transactions between SpaceX and Musk's other companies. The letter states: "We are particularly concerned that SpaceX's IPO would expose a large number of investors to a company whose value could decline after its financial disclosures are independently reviewed and verified." (Jin Shi)
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