SpaceX agreed to acquire anysphere through a stock-for-stock merger that values Cursor’s equity at $60.0 billion. Cursor will become a wholly owned subsidiary of SpaceX if the deal clears the required approvals. Existing holders are not getting cash in this transaction.
SpaceX and Anysphere
SpaceX signed an Agreement and Plan of Merger to buy Anysphere, Inc. through X67 Inc., a wholly owned subsidiary. Each share of Cursor common and preferred stock will convert into the right to receive SpaceX Class A common stock at closing. That replaces direct ownership in Cursor with equity in SpaceX.
Class A shares at closing
The exchange ratio will be based on the $60.0 billion implied equity value and the volume-weighted average closing price of SpaceX Class A shares over the seven trading days before closing. That means the final share count will move with SpaceX’s trading price in the days before the merger closes. The consideration will be issued as unregistered securities in reliance on Section 4(a) of the Securities Act of 1933 as a private offering.
Third quarter of 2026
The merger is currently expected to close in the third quarter of 2026, subject to customary closing conditions and required regulatory approvals. For Cursor holders, the practical question is whether the stock conversion arrives on that timeline and at the final exchange ratio set by the seven-day price window. Until then, the deal remains a signed agreement rather than completed ownership change.
