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Investorideas.com (www.investorideas.com newswire) a trusted platform for investing ideas including space stocks
issues news and trading for the sector as Space Exploration
Technologies Corp. (SpaceX) (Nasdaq: SPCX) keep making gains following its IPO.
Yesterday SpaceX (Nasdaq: SPCX) announced the closing of its initial public offering of an
aggregate 638,888,888 shares of its Class A common stock, including
the full exercise by the underwriters of their overallotment option
to purchase an additional 83,333,333 shares of Class A common stock
from SpaceX. The issuance of all shares closed on June 15, 2026,
bringing the gross proceeds from the initial public offering to
SpaceX to approximately $85.7 billion.
Everything about this stock is going to be unique, from the size of
its IPO to the recent news on how it intends to report to investors.
Reuters reported
– “SpaceX will release quarterly and annual financial results,
besides other material news, only through its website and social
media account on X and not through wire distribution services, it
said in a filing on Monday.
The move marks a departure from standard corporate communication
practices, which typically involve newswire services like Business
Wire or PR Newswire to reach a broad audience of investors and
media outlets.”
Now according to its
SEC filing today
it is advancing its AI capabilities.
“Space Exploration Technologies Corp. (the “Company”), X67 Inc., a
wholly owned subsidiary of the Company (“Merger Sub”), and
Anysphere, Inc. (“Cursor”) entered into an Agreement and Plan of
Merger (the “Merger Agreement”), pursuant to which Merger Sub will
merge with and into Cursor, with Cursor surviving the merger as a
wholly owned subsidiary of the Company (the “Merger”). The
transaction is subject to the satisfaction or waiver of the
closing conditions set forth in the Merger Agreement, including,
but not limited to, receipt of requisite regulatory approvals.
At the effective time (the “Effective Time”) of the Merger, each
share of Cursor’s common stock and each share of Cursor’s
preferred stock outstanding immediately prior to the Effective
Time of the Merger will be automatically converted into the right
to receive shares of the Company’s Class A common 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 (the “Merger
Consideration”).
The Company currently expects the Merger to close during the third
quarter of 2026.”
The stock is trading at $211.48 +18.98 (+9.86%) on volume of 179
Million shares as of this report.
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