---
title: SpaceX's Share Price Before Closing Decides What Cursor's Owners Receive
description: SpaceX's merger agreement fixes Cursor's value at $60 billion and sets the share count from a seven day average price before closing.
author: Darie Nani (Editor-in-Chief)
updated: 2026-08-10T09:26:11.167Z
canonical: https://www.sovereignmagazine.com/article/spacex-cursor-share-count-pricing-window
image: https://cdn.nanimediahouse.com/spacex-cursor-share-count-133847.webp
categories: Markets
content_type: News
region: United States
publication: Sovereign Magazine
schema_type: Article
---

SpaceX could complete its $60 billion takeover of the AI coding company Cursor within days, and the number of SpaceX shares Cursor's owners will receive has not been set. The merger agreement fixes the value of Cursor at $60.0 billion and works out the share count from SpaceX's own average closing price over the seven trading days immediately before the deal closes.

The account Muskonomy [said in a post on X on 10 August](https://x.com/muskonomy/status/2086672628534923551) that SpaceX could close the purchase as soon as next week, citing The Information, which reported that Cursor had told its own staff the deal was near. Cursor's employees would move into SpaceXAI, the AI arm of SpaceX, once it completes.

## SpaceX Averages Its Own Closing Price Over the Seven Trading Days Before the Deal Completes

SpaceX, its wholly owned subsidiary X67 Inc. and Anysphere, Inc., which does business as Cursor, signed an Agreement and Plan of Merger on 16 June, according to [the Form 8-K SpaceX filed that day](https://www.sec.gov/Archives/edgar/data/1181412/000162828026043411/spaceexplorationtechnologi.htm). X67 merges into Cursor and Cursor survives as a wholly owned subsidiary. Each Cursor share converts into the right to receive SpaceX Class A stock “based on an implied equity value of Cursor of $60.0 billion and the price of the Company's Class A common stock equal to the volume-weighted average closing price thereof over the seven consecutive trading days immediately preceding the closing of the Merger”.

In practice SpaceX takes the average of its Nasdaq closing prices, ticker SPCX, over those seven days and divides $60 billion by it. The deal still needs its closing conditions met, including regulatory approvals, and SpaceX said in the filing that it expects to complete during the third quarter, which runs to the end of September. If it closes next week, the pricing window is running now.

## A Lower Price in That Window Means More Shares for Cursor's Owners

The dollar figure is set and the conversion price is not. The lower SpaceX trades over those seven days, the more Class A shares Cursor's shareholders receive for the same $60 billion, and the larger the slice of the company existing holders give up. A higher price means fewer new shares.

At the $135.00 the shares were sold for in June's initial public offering, $60 billion works out at about 444 million shares, close to 6 percent of the 7,607 million Class A shares outstanding at the end of June. That is a measure of scale rather than a forecast: the real number comes from wherever SPCX trades in the seven days before the deal closes.

The stock Cursor's owners receive will be unregistered, issued under the Section 4(a)(2) exemption for a sale that is not a public offering. Separately, a lock-up expired on 6 August and [SpaceX insiders became free to sell 911.5 million shares](https://www.sovereignmagazine.com/article/spacex-lockup-911-million-shares-unlock).

## SpaceX Took an Option on Cursor in April Before the June Merger Agreement

The transaction started as an option. SpaceX's quarterly report for the three months to 30 June, filed on 4 August, describes an April agreement giving it “the right, but not the obligation” to acquire Anysphere, which the filing calls a San Francisco based private software company doing business as Cursor. SpaceX could exercise at its sole discretion, with board approval, during a 30 day window opening at the earlier of seven trading days after its IPO and 30 September. Cursor was bound by exclusivity while the option ran.

SpaceX completed the IPO in June, selling 638.9 million Class A shares at $135.00 for net proceeds of $85,675 million after $575 million of underwriting commissions and offering costs. The merger agreement followed on 16 June.

## SpaceX's AI Segment Revenue More Than Tripled in a Year

SpaceX describes its AI segment as a vertically integrated platform spanning its Grok model, AI products for consumers and businesses, the X platform and computing infrastructure. That segment reported revenue of $2,561 million in the second quarter against $737 million a year earlier, with AI solutions and infrastructure accounting for $2,194 million of it against $311 million.

## FAQ

**Q: Did SpaceX pay cash for Cursor?**
No. Cursor's shareholders receive SpaceX Class A stock rather than cash, converted from a fixed $60.0 billion of value at the average closing price of the seven trading days before completion.

**Q: What is Anysphere?**
It is the legal name of the company that does business as Cursor, described in SpaceX's filings as a San Francisco based private software company.

**Q: What is the drawback of an all stock offer priced this way?**
The seller carries no risk on the dollar value, which is fixed, and the buyer's existing shareholders carry the risk on the share count: the weaker the buyer's stock in the pricing window, the more shares they have to give up.