SpaceX made a confidential filing with the US Securities and Exchange Commission for an initial public offering on Wednesday, according to the confidential SEC filing. The company aims to officially go public sometime in June.

The value of SpaceX once it goes public is expected to surpass $1 trillion. By making shares of SpaceX available for purchase by the public, the company is looking to raise $50 billion or more.

SpaceX is currently privately held. The company manufactures rockets, space exploration technology and Starlink satellites.

A confidential IPO filing with the SEC allows a company to avoid immediately revealing information to the public while it requests feedback from the regulator. An initial public offering would allow shares to be traded in the stock market.

The next step will be for company executives to hold roadshows, meetings with big investors to convince them to buy shares.