SpaceX stock falls as $60B Cursor deal closes 
SpaceX has completed its $60 billion stock-based acquisition of Anysphere, bringing the Cursor coding platform into its SpaceXAI business as SPCX shares fell during Friday trading. The closing came less than two months after SpaceX signed the merger agreement on June 16. Under its terms, the company valued Anysphere at an implied equity value of $60 billion and agreed to compensate its investors with SpaceX Class A common stock.
Cursor’s common and preferred shares outstanding immediately before the merger were automatically converted into rights to receive 389,289,254 SpaceX Class A shares, according to the filing.SpaceX based the exchange on the volume-weighted average closing price of its Class A shares over the seven consecutive trading days before the acquisition closed. Rather than setting one fixed share price when the agreement was signed, the structure tied the final share count to SPCX’s recent market value. 
Vested Cursor restricted stock units were separately converted into rights to receive 1,752,426 SpaceX Class A shares before applicable tax deductions. Holders will receive cash instead of fractional shares where the exchange calculation does not produce a whole share. Unvested awards will remain tied to future service and vesting requirements. According to the filing, SpaceX assumed the outstanding awards and converted them into about 29,128,326 restricted stock units linked to its Class A shares.
