Good morning, CFOs. Elon Musk’s SpaceX public offering gets ready for liftoff; Sunshine Silver Mining & Refining joins the IPO bonanza; plus, investors are trying to pull more money from the biggest private-credit fund in the world.

Launching data centers in space, the colonization of Mars and other literal moon shots may be one step closer as SpaceX is on the verge of one of the largest public debuts of all time, when Elon Musk is expected to list the company on Nasdaq next week.

The investing universe got a few more details yesterday. The company said in a filing it plans to sell 555,555,555 shares at $135 apiece, raising close to $75 billion or potentially even more. That would give it a valuation of around $1.77 trillion, roughly doubling the company’s valuation from six months ago, our colleagues Becky Peterson and Corrie Driebusch report.

If Musk gets the valuation he wants, it would make SpaceX one of the most valuable companies in the world, surpassing Meta Platforms, Berkshire Hathaway and Musk’s electric-vehicle company, Tesla, which had a market capitalization of $1.3 trillion on Wednesday.

If you want to learn more, you can join a live written chat with Becky and Corrie later today from 2 p.m. to  3 p.m. ET. Subscribers can submit questions in the comments space in this Live Q&A link.

Meanwhile, the IPO market is so hot that a 140-year-old silver mine just went public. Ryan Dezember reports that Sunshine Silver Mining & Refining, controlled by billionaire Thomas S. Kaplan, raised $270 million in an IPO to restart the historic Sunshine mine.

📈 Economic Indicators

The Bureau of Labor Statistics releases the jobs report for May.

Investors are trying to pull more money from the biggest private-credit fund in the world.

Investors in Blackstone’s flagship private-credit fund, known as Bcred, asked to redeem 10% of their shares in the second quarter, up from about 8% in the first quarter. That amounted to investors asking for $4.4 billion.

Blackstone will limit redemptions from the $79 billion fund to 5%, a reversal from its strategy in March when it opted to pay the full amount requested.

• The Anything-Goes Era in Private-Credit Lending Is Coming to an End

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At the June 9–10 CEO Council London Summit, we’ll explore what CEOs need to know to lead effectively in a changing world. CEOs will have candid conversations on turning geopolitical risk into opportunity, navigating the rapid pace of AI, leading through uncertainty and more—then head home with practical ideas they can put to work right away.

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WD-40, the San Diego-based lubricants maker, is shaking up its leadership structure and will soon have its financial chief leading the company's biggest geographic division. CFO Sara Hyzer is preparing to become president of WD-40's Americas division, and she will continue managing the company's finances until a replacement CFO is named, the company said. She joined the company in 2021 and is one of the very few WD-40 executives who has seen the closely guarded formula for the company's trademark lubricant, as Jennifer Williams reported earlier this year. Nicholas Giordano, WD-40's corporate controller, is taking on the role of chief accounting officer later this month, while Claudia Fenske has been promoted to chief brand and marketing officer, another newly created role that she'll start in at the beginning of fiscal 2027.

—Dean Seal contributed to today’s Ledger.

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

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