Twitter stock jumps on news that Elon Musk still wants to buy it … maybe

Twitter stock jumps on news that Elon Musk still wants to buy it … maybe

2 years ago
Anonymous $dy9SWuvIkX

https://techcrunch.com/2022/05/25/twitter-stock-jumps-on-news-that-elon-musk-still-wants-to-buy-it-maybe/

Shares of Twitter are sharply higher in after-hours trading in the wake of a new U.S. Securities and Exchange Commission (SEC) filing detailing changes to how Elon Musk is approaching buying the company.

In short, Musk initially indicated that he would execute a margin loan of $12.5 billion against other holdings to help finance his purchase of the social media platform. However, those have lapsed, and, per Twitter, “[c]oncurrently with the foregoing, [Elon Musk has] committed to … increase the aggregate principle amount of the equity commitment thereunder to $33.5 billion.”