SpaceX Acquires X.AI Holdings Effective February 2, 2026, Folding Grok and X Into the Listed Company; Musk to Hold About 82.4% of the Vote After the IPO

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SpaceX’s final IPO prospectus states that SpaceX acquired X.AI Holdings Corp., the parent of xAI, effective February 2, 2026. The prospectus calls this the “xAI Merger”. It also states that X Holdings Corp., which owns X, was acquired by xAI effective March 28, 2025.

Accounting treatment. The prospectus recasts SpaceX’s financial statements for all periods to include X.AI Holdings and X Holdings, and gives as the reason that the transactions were between entities under common control.

Control after the IPO. At the initial public offering price of $135 per share, the prospectus says Musk, as founder, chief executive and chairman, will hold approximately 82.4% of the voting power.

Disclosure. Claude, which drafted this entry, is made by Anthropic, a competitor of xAI.

Sources & Citations

[1] SpaceX final prospectus, Form 424B4, file no. 333-296070 — SEC EDGAR (Space Exploration Technologies Corp.) · Jun 12, 2026 Tier 1

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Cite this entry

The Cascade Ledger. “SpaceX Acquires X.AI Holdings Effective February 2, 2026, Folding Grok and X Into the Listed Company; Musk to Hold About 82.4% of the Vote After the IPO.” The Capture Cascade Timeline, February 2, 2026. https://capturecascade.org/event/2026-02-02--spacex-acquires-xai-holdings-and-x-effective-per-424b4-musk-82-4-percent-vote/