Jun. 16 at 11:14 AM
$SPXC SpaceX to merge with Anysphere, Cursor to become SpaceX subsidiary
In a regulatory filing, Space Exploration Technologies Corp. disclosed that on June 16 the company, X67 Inc., a wholly owned subsidiary of the company, and Anysphere, Inc. entered into an agreement and plan of merger, pursuant to which merger sub will merge with and into Cursor, with Cursor surviving the merger as a wholly owned subsidiary of the company. The transaction is subject to the satisfaction or waiver of the closing conditions set forth in the merger agreement, including, but not limited to, receipt of requisite regulatory approvals.
At the effective time of the merger, each share of Cursor's common stock and each share of Cursor's preferred stock outstanding immediately prior to the effective time of the merger will be automatically converted into the right to receive shares of the company's Class A common stock based on an implied equity value of Cursor of
$60.0B and the price of the company's Class A common stock equal to the volume-weighted average closing price thereof over the seven consecutive trading days immediately preceding the closing of the merger. The company currently expects the merger to close during the third quarter of 2026.
