SpaceX officially launches a 1-for-5 stock split plan.

CoinFeed reported on May 18 that SpaceX has officially informed investors of its 5-for-1 stock split plan, which will lower the price per share in its upcoming initial public offering (IPO). Sources familiar with the matter revealed that the company has notified all shareholders via email that the fair market value of each share will decrease from $526.59 to approximately $105.32 after the split. The source indicated that the stock split will begin the week of May 18 and is expected to be completed by May 22. According to reports last Friday, SpaceX is expected to formally submit its highly anticipated IPO application as early as this Wednesday.