Gate will adjust its SpaceX (SPCX) asset notes following SpaceX's official stock split. SPCX is a Mirror Note that tracks SpaceX's market value before and after its IPO. This adjustment is being made to align with SpaceX's latest share structure changes and ensure the asset notes continue to accurately reflect the value of the underlying asset.
1. SpaceX Stock Split Background
Following approval from the Board of Directors and by a majority vote at the shareholders' meeting, SpaceX has officially implemented a 5-for-1 stock split. This split changes the number of shares outstanding, but the company's overall market cap and total shareholder equity remain exactly the same.
2. Trading Suspension, Resumption, and Split Schedule
To ensure accurate accounting of user assets during the split process, Gate will temporarily suspend Pre-Market Trading for SpaceX (SPCX). The schedule is as follows:
- Trading Suspension: May 22, 2026, at 2:00 (UTC). All open pre-market orders will be automatically cancelled at this time. Users are encouraged to cancel their orders in advance if needed.
- Account Snapshot & Asset Distribution: After the trading suspension, Gate will take a snapshot of all user balances. The extra asset notes from the 5-for-1 split will be deposited into your account as soon as possible after the snapshot is complete.
- Trading Resumption: Pre-Market Trading for SpaceX (SPCX) will resume once all new asset notes have been successfully distributed. A separate announcement will be made with the exact resumption time.
3. SpaceX (SPCX) Asset Note Split
Gate will simultaneously apply the split to all user-held SPCX asset notes:
- Position Adjustment (5-for-1): After the trading suspension, a snapshot of all SPCX holdings will be taken. The new split notes will be distributed as soon as possible after the snapshot is complete.
- Example: If you held 10 SPCX at the time of the snapshot, you will receive an additional 40 SPCX, bringing your total to 50 SPCX—exactly 5 times your original holdings.
- Post-Split Tracking Ratio: Before and after the split, 1 SPCX will continue to represent 1 share of SpaceX stock on a post-split basis.
4. Impact on Your Holdings and Asset Value
- Your total SpaceX (SPCX) asset value will not decrease as a result of this split.
- While the pre-market price per note will be adjusted to one-fifth of its previous value (for example, from $880 to $176), your holdings of the asset will increase fivefold at the same time. Excluding normal market fluctuations, your total net asset value in SpaceX (SPCX) will remain exactly the same before and after the split.
- Formula: Total Value = Pre-Split Quantity × Pre-Split Price = (Pre-Split Quantity × 5) × (Pre-Split Price ÷ 5)
5. Risk Warning
Because both the quantity and pricing basis of SPCX will change significantly as part of the 5-for-1 split, there may be notable price volatility when trading resumes. This could be driven by information delays, shifts in user sentiment, or changes in order book liquidity. Please make sure you fully understand the details of this split before resuming trading, carefully assess your own risk tolerance, and make investment decisions accordingly.
Gate Team
May 21, 2026
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