SpaceX agreed in June to buy Cursor in shares at an implied equity value of $60.0 billion

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On Jun 16, 2026, SpaceX and its subsidiary X67 Inc. signed an Agreement and Plan of Merger with Anysphere, Inc., which the filing calls Cursor; under it X67 would merge into Cursor. SpaceX reported it the same day in a Form 8-K, the report a US-listed company files after a major event; Item 1.01 of that form covers material agreements.1^,2^,3^,4

Cursor would survive the merger as a wholly owned SpaceX subsidiary. Each share of Cursor's common and preferred stock would convert into shares of SpaceX Class A common stock, based on an implied equity value of Cursor of $60.0 billion; equity value is the value of the shares alone, before debt. The SpaceX share price for the conversion would be its volume-weighted average closing price over the seven consecutive trading days before the closing. The deal was subject to closing conditions, including regulatory approvals, and SpaceX said it expected the merger to close in the third quarter of 2026. Item 3.02 covers shares a company issues without registering them: SpaceX said it would issue the shares under an exemption for transactions that involve no public offering.1^,5^,6^,7^,8^,4^,9

In a results release filed with an 8-K on Aug 4, 2026, SpaceX described the purchase as a way to speed up its AI enterprise offerings with one of the most advanced AI coding tools available. SpaceX's shares trade on Nasdaq as SPCX.10^,11^,12

The merger took effect on Aug 14, 2026, according to an 8-K SpaceX filed that day, and Cursor's stock was converted into the right to receive 389,289,254 SpaceX Class A shares, on the same implied equity value of $60.0 billion.13^,14^,15

Our records hold the text of the Jun 16 8-K and the Aug 14 one, and neither states a premium over a market price or an enterprise value for the deal. We do not hold the merger agreement, which the filing lists as Exhibit 10.1, so what it says beyond the 8-K's summary is not in our records.3^,14^,16^,17^,18