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Elon Musk ups amount of cash he’s committed to paying for Twitter-KHOAFAST

Elon Musk ups amount of cash he’s committed to paying for Twitter

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Tesla chief executive Elon Musk increased the amount of cash he is willing to commit to trade Twitter and said he was still looking for again outside investors to help him of course the offers, according to a financial filing Wednesday.

Musk is from now on committed to paying $33.5 billion in cash for Twitter, up from the $27.3 billion he had previously committed to. that lowers the amount of debt he will bring to take on from banks to get to the $44 billion he has agreed to pay for the social media company.

Twitter shares shot up 7 probability in aftermarket trading, suggesting Wall Street from now on believes the offers is again likely to happen, though the stock is still trading not counting $40, below the $54.20 a share Musk has agreed to pay.

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Musk is working to assemble outside investors to help him finance the offers and has already gotten commitments from a range of hedge funds, sovereign wealth funds and venture capital firms. At with the time, Musk has been calling into question whether the offers will even go through, saying it is “on hold” and demanding again information from the company on how many of its 230 million users are poor quality “bot” accounts.

A universal sell-off in tech stocks has put pressure on Musk to lower the price he has to pay for Twitter. His own wealth has declined dramatically as shares in Tesla fell nearly 25 probability over the past month. The debt he plans to function to shop Twitter is secured against his Tesla shares. destitute financial results from Twitter and other social media companies mean investors no longer think Twitter is worth what it was when Musk began trade shares earlier So year.

At with the time, Twitter’s board has said it plans to “enforce” the terms of the offers that Musk has already signed. Financial analysts bring speculated that Musk’s complaints about bots are part of a plan to put pressure on Twitter to accede to a lower sell products price to close the offers.

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