This market will resolve based on SpaceX's market capitalization at the closing price on the last trading day of the calendar month in which SpaceX completes its Initial Public Offering (IPO). The IPO refers to the first sale of stock by SpaceX to the public on any recognized stock exchange. If no SpaceX IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to "No IPO before 2028". Market capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency. It is calculated as the number of shares outstanding multiplied by the closing share price on the last trading day of the calendar month in which SpaceX completes its IPO. If the relevant value falls exactly between two brackets, then this market will resolve to the higher range bracket. Resolution will be based on the primary exchange’s official listing page. In the event that the relevant figure is not displayed, another reliable source will be used. In the event of an interruption in the course of the normal trading session on SpaceX’s last trading day of the calendar month in which SpaceX completes its IPO (e.g., a circuit breaker or half-day), the market will resolve according to the official closing price of the abbreviated session. If no such official closing price is published, the market will resolve according to the next trading day on which an official closing price is published, treating that as the last trading day of the calendar month in which SpaceX completes its IPO.