Entrepreneur Elon Musk, founder and CEO of Tesla and SpaceX, decided to modify the sources of financing with which he aspires to pay for the purchase of the social network Twitter for nearly 44,000 million dollars, as reported after the closing of the market by the United States Securities and Exchange Commission (SEC).
The changes do not affect the price, but the way in which Musk aims to raise the amount necessary to take over the social network. Nor do they imply a reactivation of the offer, since the businessman announced days ago that it was paralyzed until Twitter demonstrated the real percentage of false accounts on the platform.
In this way, the capital contribution that Musk will make now is 33.5 billion dollars, compared to the 27.25 billion that he had previously proposed.
The capital increase that the owner of Tesla plans to make is due to the fact that he has let the margin loan contract that he had granted for a value of 6,250 million dollars expire. This coincides with a continued decline in his company’s shares over the last eight weeks.
K. Tovar
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Source: DW
