What was the main purpose of this filing?

This Form 8-K filing reports the completion of the acquisition of Anysphere, Inc. (Cursor) by Space Exploration Technologies Corp. (SPCX) and provides details on the transaction's closing.

How did SPCX finance this acquisition?

SPCX financed the acquisition primarily through the issuance of its own Class A common stock. Approximately 389.3 million shares were issued to Cursor's stockholders, plus additional shares for vested restricted stock units. Unvested equity awards from Cursor were also assumed and converted into SPCX equity.

What is the implied valuation of Cursor based on this deal?

The implied equity value of Cursor at the time of the merger was $60.0 billion.

Were these shares issued in a public offering?

No, the issuance of SPCX shares to Cursor's stockholders and for equity awards was completed in reliance on the exemption from registration requirements provided by Section 4(a)(2) of the Securities Act of 1933, meaning it was not a public offering.

SPCX 8-K: Acquisitions & Dispositions & Securities & Listing

01—Abstract

Summary

Summary of the 8-K filed August 14, 2026. Cited figures are marked; the original filing is the authoritative source.

Space Exploration Technologies Corp. (SPCX) has officially completed its acquisition of Anysphere, Inc. (Cursor) through a merger that became effective on August 14, 2026.

This strategic move significantly expands SPCX's footprint, with Cursor now operating as a wholly-owned subsidiary. The acquisition was executed via a subsidiary merger, integrating Cursor's operations seamlessly into SPCX's structure. Investors should note the substantial share issuance as consideration for the acquisition.

SPCX has issued approximately 389.3 million shares of its Class A common stock, valued at an implied equity of $60.0 billion^a, along with an additional 1.75 million shares for vested restricted stock units. Furthermore, unvested equity awards from Cursor, including RSUs and stock options, have been assumed by SPCX, totaling approximately 29.1 million RSUs and 44.4 million stock options. This transaction was completed under the exemption provided by Section 4(a)(2) of the Securities Act of 1933, indicating it was not a public offering.

02—Key points

Key Highlights

SPCX completed the acquisition of Anysphere, Inc. (Cursor) on August 14, 2026.
Cursor is now a wholly-owned subsidiary of Space Exploration Technologies Corp.
The acquisition was structured as a merger with SPCX's subsidiary, X67 Inc.
SPCX issued approximately 389,289,254 shares of Class A common stock as primary consideration.
The implied equity value of Cursor at closing was $60.0 billion.
SPCX assumed Cursor's unvested equity awards, including approximately 29.1 million RSUs and 44.4 million stock options.
The transaction was conducted under the Section 4(a)(2) exemption for unregistered sales of securities.

03—Questions

Frequently Asked Questions

What was the main purpose of this filing?
This Form 8-K filing reports the completion of the acquisition of Anysphere, Inc. (Cursor) by Space Exploration Technologies Corp. (SPCX) and provides details on the transaction's closing.
How did SPCX finance this acquisition?
SPCX financed the acquisition primarily through the issuance of its own Class A common stock. Approximately 389.3 million shares were issued to Cursor's stockholders, plus additional shares for vested restricted stock units. Unvested equity awards from Cursor were also assumed and converted into SPCX equity.
What is the implied valuation of Cursor based on this deal?
The implied equity value of Cursor at the time of the merger was $60.0 billion.
Were these shares issued in a public offering?
No, the issuance of SPCX shares to Cursor's stockholders and for equity awards was completed in reliance on the exemption from registration requirements provided by Section 4(a)(2) of the Securities Act of 1933, meaning it was not a public offering.

04—Continue

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