Mergers & Acquisitions
Space Exploration Technologies completes merger with Cursor
Space Exploration Technologies Corp. said its merger with Anysphere, Inc., identified in the filing as Cursor, became effective on August 14, 2026. Cursor is now a wholly owned subsidiary of the company.
By Carter Hayes ·
Key takeaways
- The merger of X67 Inc., a wholly owned subsidiary of Space Exploration Technologies, into Cursor became effective on August 14, 2026.
- Cursor common and preferred shares outstanding before the merger converted into rights to receive an aggregate 389,289,254 shares of Space Exploration Technologies Class A common股票
- The filing states that Cursor had an implied equity value of $60.0 billion for the transaction.
- Unvested Cursor restricted stock units and stock options were assumed and converted into Company restricted stock units and options tied to Class A common stock.
Merger closes with Cursor as surviving subsidiary
Space Exploration Technologies Corp. reported that its merger with Anysphere, Inc., identified in the filing as Cursor, became effective on August 14, 2026. X67 Inc., a wholly owned subsidiary of Space Exploration Technologies, merged with and into Cursor.
Cursor survived the merger and became a wholly owned subsidiary of Space Exploration Technologies. The company said the parties entered into the merger agreement on June 16, 2026.
Merger consideration included Class A shares and cash for fractions
The filing states that Cursor common and preferred shares outstanding immediately before the effective time converted into rights to receive an aggregate 389,289,254 shares of Space Exploration Technologies Class A common stock. It describes Cursor’s implied equity value as $60.0 billion.
The Class A share price used for this part of the consideration was the volume-weighted average closing price over the seven consecutive trading days immediately preceding the merger closing. Vested Cursor restricted stock units converted into rights to receive, before applicable tax withholding, an aggregate 1,752,426 Class A shares.
The filing defines the merger consideration as the consideration for Cursor common and preferred shares, the consideration for vested restricted stock units, and cash received in lieu of fractional shares. The company said the issuance of merger consideration relied on a Securities Act exemption for an issuer transaction not involving a public offering.
Unvested restricted stock units and options were converted
Space Exploration Technologies assumed and converted unvested Cursor restricted stock units outstanding immediately before the effective time into approximately 29,128,326 Company restricted stock units with respect to Class A common stock.
It also assumed and converted Cursor stock options outstanding immediately before the effective time into approximately 44,365,047 stock options to purchase Company Class A common stock.