S&P Global Maintains 12-Month Maturity Rule, Rejects Fast-Track IPO Inclusion for SpaceX on June 5

SPX-10.31%
According to S&P Global, the company rejected a proposal on June 5 to expedite inclusion of major IPOs like SpaceX into the S&P 500 Index. S&P Global stated it will maintain its existing qualification requirements for the index, refusing to shorten the current 12-month maturity period for newly listed companies or waive profitability and public float requirements based on company size. This means SpaceX must wait at least one year after its IPO before being eligible for inclusion and must meet existing profitability standards (GAAP earnings in the most recent quarter and trailing 12-month period) and maintain a public float of at least 50%.
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