NotMyOldRedditName comments on SpaceX is buying Cursor for $60 billion

[–] NotMyOldRedditName@lemmy.world 2 points 2 months ago* (1 child)

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

permalink

fedilink

source

parent

hideshow 2 child comments

[–] Kazumara@discuss.tchncs.de 3 points 2 months ago* (1 child)

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”).

permalink

fedilink

source

parent

hideshow 2 child comments

[–] NotMyOldRedditName@lemmy.world 1 point 2 months ago* (1 child)

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.

permalink

fedilink

source

parent

hideshow 2 child comments

[–] Kazumara@discuss.tchncs.de 1 point 2 months 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.

permalink

fedilink

source

parent

lemmy:	0.19.20
mlmym (mschae):	26.3.4