SpaceX, the aerospace firm founded by Elon Musk, has halted the first launch of its new Starship V3 rocket on May 21 after technical issues during the countdown. The delay pushed back what would have been Starship’s 12th test flight since the last in October 2025.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
SpaceX said in its initial public offering (IPO) prospectus filed Wednesday that Starship is central to its growth plans, while also listing the rocket as the firm’s top risk factor.
Technical Faults Halt SpaceX Starship Launch
Starship V3 launch was meant to mark the rocket’s first flight from SpaceX’s new Pad 2 at its Starbase site near Brownsville, Texas.
However, the launch system halted several times when its countdown reached 40 seconds before liftoff, as engineers ran into repeated technical issues near the end.
These included an error with a water diverter on the launch pad and another involving Starship’s quick-disconnect system, which links the rocket to ground equipment before launch.
Musk later confirmed in a post on X that a pin holding the tower arm also failed to retract. The firm ultimately ran out of time to resolve the problems, forcing the company to call off the mission.
Still, Musk said if the pin issue could be fixed overnight, another launch attempt could take place the following day, May 22.
Years of Setbacks Trail Starship V3
Starship V3 is the third version of SpaceX’s rocket, designed to carry larger satellites and support long-term plans for Mars missions and asteroid mining. The firm has invested about $15 billion in the rocket program, including $3 billion in 2025 alone.
But after three years of testing and technical setbacks, the rocket has yet to carry any customer satellites. Several past tests ended in explosions, including one in June 2025 that was strong enough to shake homes miles from the launch site.
In another case, debris disrupted flight paths for commercial airlines over the Caribbean. The V3 version features a redesigned fuel system meant to allow all engines to ignite faster and more simultaneously.
Musk noted that “almost every part of Starship V3 is different from V2.” The recent scrubbed mission was set to deploy 20 Starlink test satellites and to examine how the rocket’s heat shield tiles perform during re-entry.
What Day Will SpaceX Go Public?
SpaceX is reportedly targeting a June 12, 2026 listing on the Nasdaq (NDAQ) under the ticker “SPCX,” with an investor roadshow set to begin the week of June 8 and pricing set for June 11. The firm made its IPO filing public on May 20, but has not officially confirmed the listing date, and the timeline could shift depending on market conditions and investor demand. For more information on SpaceX ahead of its IPO, visit the TipRanks Private Company Center.
