🧐 SpaceX ( $SPCX ) is expected to complete next week the acquisition worth $60 billion of Cursor
It is worth noting that SpaceX acquired Cursor through its own shares, not cash
When the merger takes effect, all “common stock” and “preferred stock” in Cursor will automatically be converted into SpaceX Class A common stock
The exchange ratio is based on Cursor’s implied valuation of $60 billion, and on the “volume-weighted average closing price” of SpaceX’s shares over the last 7 consecutive trading sessions before completion
👉 Sale restrictions under Rule 144
For a publicly listed company like SpaceX, non-affiliated shareholders must hold the shares for a full 6 months before they are allowed to resell them publicly
If the shareholder is an affiliate—such as an institutional team from Cursor entering management at SpaceX—additional restrictions will also apply, related to trading volume and reporting requirements
As of within 6 months, transferring Cursor shares will not create selling pressure on $SPCXB
And since a large portion of “employee shares” has already been released after the August results, the next biggest tranche of lock-up releases will be in November, and there are no material unlock events in the short term
Left is computing power, right is a model… can this $SPCX reach $200? 👀
It is worth noting that SpaceX acquired Cursor through its own shares, not cash
When the merger takes effect, all “common stock” and “preferred stock” in Cursor will automatically be converted into SpaceX Class A common stock
The exchange ratio is based on Cursor’s implied valuation of $60 billion, and on the “volume-weighted average closing price” of SpaceX’s shares over the last 7 consecutive trading sessions before completion
👉 Sale restrictions under Rule 144
For a publicly listed company like SpaceX, non-affiliated shareholders must hold the shares for a full 6 months before they are allowed to resell them publicly
If the shareholder is an affiliate—such as an institutional team from Cursor entering management at SpaceX—additional restrictions will also apply, related to trading volume and reporting requirements
As of within 6 months, transferring Cursor shares will not create selling pressure on $SPCXB
And since a large portion of “employee shares” has already been released after the August results, the next biggest tranche of lock-up releases will be in November, and there are no material unlock events in the short term
Left is computing power, right is a model… can this $SPCX reach $200? 👀
