Elon Musk commits another $6.25 billion in equity to buy Twitter

According to Reuters news agency, this disclosure was made in a legal filing on May 25. The latest information shows that Mr. Musk is still working to complete the deal with Twitter despite the delay.

Earlier, the Tesla founder stated that the deal would not be able to continue until Twitter proved the number of spam accounts to make up less than 5% of its total users.

Mr. Musk suspects that spam accounts make up at least 20% of Twitter’s users and has offered to buy the social network for a lower price.

However, on May 25, Musk announced that he was talking with shareholders to make more financial commitments for the new deal.

Twitter shares rose about 6% to $39.15 per share following the news.

Musk initially raised a $12.5 billion margin loan for the deal with Twitter. But by early May, the loan had dropped to $6.25 billion after Musk brought in other investors.

In April, billionaire Musk prepared $ 46.5 billion from loans and personal assets to directly buy Twitter.

In it, Mr. Musk pledged to spend $33.5 billion out of his own pocket for this deal.

After Mr. Musk’s offer, Twitter’s board initially voted to limit the world’s richest billionaire’s ability to increase shares, but later voted in favor of the purchase proposal. his back.

Twitter last week said it was committed to the deal at an agreed-upon price of $54.20 per share.

In addition, at the annual shareholder meeting on May 25, Twitter investors blocked the continuation of Mr. Musk’s confidants on the board.