SpaceX has notified the U.S. Securities and Exchange Commission of its intention to acquire software company Anysphere at a $60 billion equity valuation.
The notification stated that SpaceX’s subsidiary X67 will merge with Anysphere as part of the acquisition, and once the transaction is completed, Cursor will operate as a wholly owned subsidiary of SpaceX.
Share Conversion to Be Part of the Merger
The $60 billion valuation highlights the scale of the deal. Upon the merger’s completion, Cursor’s outstanding common and preferred shares will automatically convert into SpaceX’s Class A common stock.
The SpaceX share price used for this conversion will be calculated based on the volume-weighted average closing price over the seven trading days immediately preceding the closing of the merger.
Process Subject to Approvals
The notification emphasized that the process depends on obtaining the necessary regulatory and legal approvals.
It also stated that the merger is expected to be completed in the third quarter of this year.