Musk’s Revised Twitter Bid Drops Margin Loan, Requires More Cash

9 просмотров

(Bloomberg) -- Elon Musk is dropping plans to partially fund his purchase of Twitter Inc. with a margin loan tied to his Tesla Inc. stake and increasing the size of the deal’s equity component to $33.5 billion.

Most Read from Bloomberg

Biden Demands US ‘Stand Up’ to Gun Makers After Texas Attack

Plot to Kill George W. Bush in Revenge for Iraq War Was Foiled, FBI Says

Fed Saw Aggressive Hikes Providing Flexibility Later This Year

Why So Few Big Rats Have Fled Putin’s Ship

Stocks Climb in Volatile Session After Fed Minutes: Markets Wrap

Musk will provide an additional $6.25 billion in equity financing for the buyout, according to a regulatory filing Wednesday. That’s enough to eliminate the margin loan of the same size, which had already been reduced earlier this month.

The Tesla chief executive is continuing to seek additional financing commitments to fund the $44 billion deal, including having discussions with Twitter co-founder Jack Dorsey and other investors about rolling their equity into the private company, the filing said.

Musk’s Twitter purchase originally relied on $21 billion of equity that he has to come up with and $12.5 billion in margin loans secured by his Tesla stock. That margin loan was cut to $6.25 billion on May 5, after he announced that he’d secured equity commitments from other investors.

Musk is the world’s richest person, with a personal fortune of $200 billion, according to the Bloomberg Billionaires Index. That’s largely due to his stake in Tesla, the electric carmaker he co-founded.

Twitter was up 6.8% from its closing price in after-hours trading at 4:58 p.m. in New York, while Tesla slid 1.4%.

(Updates with additional details throughout.)

Most Read from Bloomberg Businessweek

Mark Zuckerberg Is Blowing Up Instagram to Try and Catch TikTok

Elon Musk’s 420-Degree Edgelord Pivot Is Getting Stale

Deadly Heat in India Is a Warning of Global Catastrophes to Come

The Thrill of Better Office Wi-Fi

Open With Care: That Next Power Bill Could Shock You

©2022 Bloomberg L.P.

Поделись своим мнением

ООО "Профинансы ИТ решения"
Юридический адрес: 123112, Российская Федерация, г. Москва, Пресненская набережная, д.12, этаж 82, офис 405, помещение 4
ОГРН: 1227700402522
ИНН: 9703096398
КПП: 770301001
Расчётный счет 40702810710001115701
Корреспондентский счет 30101810145250000974
БИК банка 044525974
Информация на данном сайте представлена исключительно для ознакомления и самостоятельного анализа инвестором. Не является индивидуальной инвестиционной рекомендацией. Не является рекламой ценных бумаг определенных компаний. Графики стоимости ценных бумаг отражают историческую динамику цены и не могут быть гарантией доходности в будущем. Прошлые результаты инвестиционной деятельности не гарантируют доходность в будущем. Числовые показатели взяты из официальных финансовых отчетов представленных компаний. ООО «ПРОФИНАНСЫ ИТ РЕШЕНИЯ» не несет ответственности за возможные убытки инвестора в случае использования представленной на сайте информации в своей инвестиционной стратегии, покупки и продажи указанных на сайте ценных бумаг.