Exclusive-SpaceX, xAI set share exchange ratio at 0.1433, source says
Tweet
Share
E-mail
FILE PHOTO: SpaceX's logo and an Elon Musk photo are seen in this illustration created on December 19, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Feb 2 (Reuters) - Investors in Elon Musk's xAI will receive 0.1433 shares of SpaceX for every share of xAI as part of the satellite company's purchase of the billionaire entrepreneur's artificial intelligence company, a source familiar with the matter said on Monday.
As part of the deal, some xAI executives may also opt for cash instead of SpaceX stock, receiving $75.46 per share for each xAI share, the source added.
SpaceX was not immediately available for comment.
(Reporting by Echo Wang; Editing by Paritosh Bansal )
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Landslide death toll rises in China's Gansu Province as heavy rains continue
- Rosatom says its civilian vessel sank in Black Sea after Ukrainian drone attack, all crew survived
- Fires on more than 250,000 acres of Washington state prompt evacuations
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
