What happened to xAI PreStocks? Mergers, conversion ratios and deadlines

What PreStocks told XAI holders

The xAI page on prestocks.com carries the notice: xAI was acquired by SpaceX, and each XAI token had to be swapped into 0.7165 SPACEX before 11:59pm UTC on 12 September 2026, or it would expire worthless.^[1] PreStocks' June notice gave the same deadline and the pre-split ratio of 1 XAI to 0.1433 SPACEX, and said conversion had been available since February.^[2]

The arithmetic

0.1433 × 5 = 0.7165, so the two ratios describe the same deal: 100 XAI became 14.33 SPACEX before the split, which the split displays as 71.65 SPACEX.^[1][2] Holders who converted then followed SpaceX into its own IPO conversion, with a deadline of 12 March 2027.^[3]

The general merger rule

PreStocks' FAQ covers mergers and acquisitions in two cases:^[4]

• Cash deal. Net proceeds are distributed pro rata as USDC, and holders convert their tokens into that USDC.
• Stock deal. The token may become convertible into a tokenized version of the new company's equity, if PreStocks creates and supports one.

Either way, holders have up to six months after conversion opens; then the tokens expire worthless and are no longer supported.^[4] The terms add that PreStocks may migrate, convert or discontinue an affected token at its discretion.^[5]

What an expired token looks like

Expiry isn't a burn: XAI tokens still sit in wallets. On 28 Sep 2026 the XAI mint's transfer fee had been set to 0%, Jupiter counted about 1,465 holders, and its pool held under $200 of liquidity, so there was effectively nowhere to sell.^[6][7]

How not to get caught out

• Follow the announcements. PreStocks posts corporate actions on X and on the company page, and mirrors them in its Telegram channel.^[2][8]
• Watch the company, not just the token. A merger announcement for the private company is the trigger, often months before the deadline.
• Convert early. Liquidity thins as a deadline nears, and a failed transaction on the last evening can't be retried after 23:59 UTC.
• Check the target token. Conversion lands you in a different token with its own fee and deadline, as XAI holders found when SpaceX itself went public.^[3]