SpaceX has submitted a notification to the U.S. Securities and Exchange Commission to acquire software company Anysphere at a $60 billion equity valuation.
The notification states that SpaceX’s subsidiary X67 will merge with Anysphere as part of the acquisition, and after the transaction is completed, Cursor will operate as a wholly owned subsidiary of SpaceX.
The $60 billion valuation assigned to the company highlights the scale of the deal. Once the merger takes effect, 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.
The notification emphasized that the process is subject to obtaining the necessary regulatory and legal approvals.
It was also noted in the same notification that the merger is expected to be completed in the third quarter of this year.