Richmond attorneys among advisory team for landmark SpaceX IPO 

Two Richmond attorneys were among the advisory team for SpaceX‘s landmark IPO launch on June 12, which marked the largest public offering of stock in Wall Street‘s history and made Elon Musk the world’s first trillionaire. 

Hunton Andrews Kurth advised the Texas-based corporation on Texas law and corporate governance matters, according to a June 15 release from the firm. Eleven attorneys from the firm made up the advisory team, including Richmond-based corporate partner Steven M. Haas and partner Jonathan E. Schronce. 

Haas is co-head of the firm’s corporate team, a role in which he regularly advises companies on corporate governance and fiduciary duty matters, among other areas of expertise.  

Schronce is a partner in the firm’s corporate, securities and government investigations team, where he has litigated complex commercial disputes and guides clients through state government ethics issues. 

The team was led by Texas attorneys Daryl Robinson and Rob Smith. Per Hunton Andrews Kurth’s press release, Robertson has been involved with the legislative drafting process for the Texas Business Organizations Code — which governs Texas corporations like SpaceX — since 1995.  

The firm’s website states that it dates its involvement with representing Texas companies to 1902. Since then, the firm has represented 25% of publicly traded corporations incorporated in Texas and more than 50 Fortune 500 companies headquartered in the state. 

SpaceX raised $85.7 billion, making the aerospace contractor and tech company’s IPO the largest in history. 

Headed up by Musk, the world’s richest person, SpaceX manufactures rockets and rocket boosters for space flight. The company also operates Starlink, a satellite constellation providing high-speed broadband, as well as xAI, which runs the social media platform X, formerly Twitter, and its AI chatbot Grok.