Hi,

We are pleased to inform you that we have had over $70M in interest from our community of investors to participate in the SpaceX pre-IPO offering.

There has also been exceptional demand in the broader markets and we now have an update following the announced SpaceX + xAI transaction, along with the next required steps.

First, the facts as confirmed directly with Open Doors Partners:

• SpaceX is now valued at approximately $1T
• xAI is valued at approximately $250B
• The combined implied transaction value is approximately $1.25T and there is a projected IPO price of $1.5T later this year.
• The allocation has been successfully secured by Open Doors Partners.
• SpaceX has informed the fund that any new transactions must proceed at the new valuation of $1T.

This M&A transaction validates the valuation framework around SpaceX at scale. As a result, the per-share price for this allocation has been updated from $421 per share prior to the merger to $527 per share post-merger, reflecting the updated and confirmed $1T valuation.

All other deal terms remain unchanged.

Due to this adjustment, all investors are required to execute an updated agreement acknowledging the revised $527/share price and confirm their participation in the fund.

This is a standard step to ensure documentation accurately reflects the current valuation and to formally protect your allocation under the updated terms.

The updated agreement has been sent to you via DocuSign.

Any investor who is not interested in participating in the fund must communicate this to our team at investments@modemobile.com by this Friday, February 6.

Stepping back, this is the kind of development investors typically hope to see after committing to a private deal: clear validation from a large, credible transaction that anchors pricing and reduces uncertainty around market perception.

We’re pleased with how this first deal has come together for our broader investor base and appreciate your prompt attention to the final documentation now in your inbox.

The DocuSign agreement has been sent to you, and is awaiting your signature.

‍

Best,