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SPACE EXPLORATION TECHNOLOGIES CORP 8-K Report, Acquisition Completed (Aug 14, 2026)

Filed August 14, 2026For Securities:SPCX

Summary

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, 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.

Key Highlights

  • 1SPCX completed the acquisition of Anysphere, Inc. (Cursor) on August 14, 2026.
  • 2Cursor is now a wholly-owned subsidiary of Space Exploration Technologies Corp.
  • 3The acquisition was structured as a merger with SPCX's subsidiary, X67 Inc.
  • 4SPCX issued approximately 389,289,254 shares of Class A common stock as primary consideration.
  • 5The implied equity value of Cursor at closing was $60.0 billion.
  • 6SPCX assumed Cursor's unvested equity awards, including approximately 29.1 million RSUs and 44.4 million stock options.
  • 7The transaction was conducted under the Section 4(a)(2) exemption for unregistered sales of securities.

Frequently Asked Questions

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.

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.

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

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.