SpaceX has officially postponed the latest test flight of its Starship rocket, with officials targeting a follow-up attempt for Friday. The delay was attributed to a malfunctioning hydraulic pin located on the launch tower, a technical hurdle that Elon Musk confirmed could be resolved in time for a rescheduled liftoff at 5:30 PM CT.

This mission is particularly significant as it coincides with the company’s preparations for a massive initial public offering on the Nasdaq. The upcoming listing, which is expected to debut under the ticker symbol SPCX, is projected to be the largest in Wall Street history. A successful demonstration of the Starship V3—touted as the most powerful launch system ever developed—is viewed as a critical milestone to attract potential investors ahead of the public offering.

Financial filings reveal that SpaceX has invested over $15 billion into the Starship program to date. While the company reported $18.6 billion in revenue last year, it also recorded a net loss of $4.9 billion, a trend that continued into the first quarter of this year. Despite these losses, the company maintains a valuation of approximately $1.25 trillion. Given his majority stake, the IPO could significantly bolster Musk’s personal wealth, potentially positioning him to become the world’s first trillionaire.

The Starship V3 is designed to carry a payload of 100 metric tons, with future iterations intended to double that capacity. These upgrades are essential for the company’s long-term goals, which include the rapid deployment of Starlink satellites and supporting NASA’s lunar exploration missions.