Space Exploration Technologies Corp. (NASDAQ: SPCX) completed its acquisition of Anysphere, Inc., the maker of the AI coding tool Cursor, on August 14, 2026, according to a Current Report on Form 8-K.

The merger, originally announced June 16, 2026, was structured as an all-stock transaction with an implied equity value of Cursor at $60.0 billion. Under the terms of the deal, Cursor's outstanding common and preferred shares were converted into approximately 389.3 million shares of SpaceX's Class A common stock. The share count was calculated using a volume-weighted average closing price over the seven consecutive trading days immediately preceding the closing.

Vested Cursor restricted stock units were converted into approximately 1.75 million additional shares of SpaceX Class A common stock. Unvested restricted stock units and stock options held by Cursor employees were assumed and converted into approximately 29.1 million SpaceX restricted stock units and approximately 44.4 million SpaceX stock options, respectively.

Cursor now operates as a wholly owned subsidiary of SpaceX following the completion of the merger. The shares issued as merger consideration were not registered under the Securities Act of 1933, with SpaceX relying on the Section 4(a)(2) private placement exemption.