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SpaceX is buying Cursor for $60 billion (www.businessinsider.com)

submitted 3 weeks ago by sanitation@lemmy.today to c/technology@lemmy.world

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[-] Flower@sh.itjust.works 33 points 3 weeks ago

There goes all the money raised in the IPO.

[-] XLE@piefed.social 6 points 3 weeks ago

Don't worry, the losses will go straight to the retirement funds.

[-] Buffalox@lemmy.world 1 points 3 weeks ago

AFAIK it's less than 10%. But it's a start. 🤣🤣🤣

[-] airbreather@lemmy.world 8 points 3 weeks ago

The IPO reportedly raised $85 billion

Valuation (which is where that "over $1 trillion" comes from) is a different thing entirely

[-] Buffalox@lemmy.world 1 points 3 weeks ago* (last edited 3 weeks ago)

Yes of course you are right, my bad.
The 1 trillion is an extrapolation.

[-] wewbull@feddit.uk 1 points 3 weeks ago

I bet it will be a stock deal.

[-] NotMyOldRedditName@lemmy.world 2 points 3 weeks ago* (last edited 3 weeks ago)

It was all stock. I dont know if it was at a pre determined price, or if they closed it at the intraday price on the day of though.

That's also more shares that will be offloaded when insider blackout periods end

[-] Kazumara@discuss.tchncs.de 3 points 3 weeks ago* (last edited 3 weeks ago)

It "was" not anything, as it is still upcoming.

They will take a volume weighted average closing price of the seven previous days:

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”).

[-] NotMyOldRedditName@lemmy.world 1 points 3 weeks ago* (last edited 3 weeks ago)

Interesting, so they've agreed to do it, but at the very least 7 trading days will need to pass to satisfy that, assuming the execution of the option is immediate.

[-] Kazumara@discuss.tchncs.de 1 points 3 weeks ago

I guess the earliest would be in July, because they also stated in the same document I linked:

The Company currently expects the Merger to close during the third quarter of 2026.

[-] tekato@lemmy.world 1 points 3 weeks ago

It’s a stock deal. At $2.5 Trillion valuation I’d say this is chump change.

this post was submitted on 17 Jun 2026

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