Quick Take
- SpaceX launched Starship V3 on Flight 12 from Starbase, Texas, on Friday evening.
- The 12th test follows a Thursday scrub from a stuck hydraulic pin on the tower.
- Launch comes two days after SpaceX filed its IPO prospectus targeting $1.75 trillion.
SpaceX Starship V3 launches on Flight 12 lifted off from Starbase, Texas,, ending a seven-month gap in the rocket program.
The 12th test flight followed a Thursday scrub caused by a stuck hydraulic pin on the tower arm. It also came two days after SpaceX filed its IPO (Initial Public Offering) prospectus with the SEC (US Securities and Exchange Commission). The company is targeting a $1.75 trillion valuation and a Nasdaq debut as early as June 12, 2026.
StartupFeed Insight
The timing is everything. SpaceX filed its IPO prospectus on May 20, 2026, and now needs to show public-market investors that Starship V3 is real progress, not another year of explosions. Flight 12 delivered a partial win: the Ship reached space, deployed 22 Starlink simulators, and splashed down on target. The Super Heavy booster, however, failed its boostback burn. For NASA, which is counting on Starship for the Artemis 4 moon landing in 2028, this matters more than the IPO. Expect at least three more V3 flights before SpaceX’s first public earnings report in November 2026, by StartupFeed Desk.
Inside the SpaceX Starship V3 Launches Test
| Metric | Detail | Notes |
|---|---|---|
| Launch Date | May 22, 2026 | After Thursday, May 21 scrub |
| Vehicle | Starship V3 (Flight 12) | First flight of Version 3 hardware |
| Launch Site | Starbase, Texas (Pad 2) | First flight from the new Pad 2 |
| Launch Window | 6:30 PM ET opening | 90-minute window |
| Previous Flight | Flight 11, October 2025 | Seven-month gap |
| Total Starship Spend | Over $15 Bn | Per SpaceX’s May 20 IPO filing |
The Ship reached space, deployed all 22 Starlink simulator satellites, and made a fiery splashdown in the Indian Ocean as planned. It also lost one Raptor Vacuum engine mid-ascent but compensated and stayed on trajectory.
About SpaceX
SpaceX is an American rocket and satellite company founded in 2002 by Elon Musk and headquartered in Hawthorne, California. The company builds reusable rockets (Falcon 9, Falcon Heavy, Starship) and operates Starlink, the world’s largest satellite internet network. In February 2026, it merged with xAI to form a combined entity. SpaceX reported $18.67 Bn in 2025 revenue and serves NASA, the US Department of Defense, and commercial customers worldwide.
Why do the SpaceX Starship V3 Launches matter for the IPO?
NASA Administrator Jared Isaacman flew to Starbase to watch the launch in person. The endorsement matters. NASA has picked Starship for the Artemis 4 moon landing in late 2028, and IPO investors will price that contract into the deal.
“Congrats SpaceX team and Elon Musk on a hell of a V3 Starship launch.”
Jared Isaacman, NASA Administrator, after Flight 12 liftoff.
SpaceX has spent over $15 Bn on Starship per its SEC filing. The combined SpaceX-xAI entity posted a $4.94 Bn net loss in 2025, but adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) came in at $6.58 Bn. A clean V3 flight cadence is the bridge between today’s losses and the trillion-dollar story underwriters are pitching to fund managers.
How does SpaceX compare to its space rivals?
Starship V3 is the tallest and most powerful rocket ever built. It stands 124.4 metres with 80,800 kilonewtons of liftoff thrust and a target payload of 100 tonnes to LEO (Low Earth Orbit). No rival comes close.
Blue Origin’s New Glenn flew its first orbital mission in January 2025 but lifts only 45 tonnes to LEO. Rocket Lab’s Neutron is still in flight testing. ULA’s Vulcan Centaur is operational but smaller and not fully reusable. China’s Long March 9, the closest analogue on paper, is years from a maiden flight. The gap is widening, not closing.
What’s Next
SpaceX plans at least two more Starship V3 test flights before its first public earnings report in early November 2026. The IPO roadshow begins the week of June 8, with pricing on June 11 and trading from June 12 on Nasdaq under the ticker SPCX. Will the next V3 flight bring the Super Heavy booster home cleanly?
Frequently Asked Questions
What happened on Flight 12 of SpaceX Starship V3 launches?
SpaceX successfully launched Starship V3 on Flight 12 from Starbase, Texas, on May 22, 2026. The Ship deployed 22 Starlink simulator satellites and splashed down in the Indian Ocean as planned. The Super Heavy booster failed its boostback burn and crashed into the Gulf of Mexico.
Why was the SpaceX Starship launch scrubbed on Thursday?
A hydraulic pin holding the tower arm in place failed to retract, Elon Musk said on X after the Thursday May 21 scrub. SpaceX used up its troubleshooting time inside the 90-minute window and stood down. The team fixed the issue overnight and launched successfully the next evening.
How much is SpaceX worth ahead of its IPO?
SpaceX is targeting a valuation of roughly $1.75 trillion in its IPO, according to its S-1 prospectus filed with the SEC on May 20, 2026. The offering could raise up to $75 Bn, making it the largest IPO in history. Shares are expected to list on Nasdaq from June 12, 2026.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. The analysis above is based on publicly available information and should not be the sole basis for any investment decision. Please consult a SEBI-registered financial advisor before making investment decisions.
Written by StartupFeed Desk. Published: May 23, 2026. Updated: May 23, 2026. Have a tip? Write to us at editorial@startupfeed.in.
