Elon Musk updates Twitter financing plan; shares jump

Posted on AllSides May 26th, 2022
From The Right
Banking and Finance, Elon Musk, Twitter
Photo by ROBYN BECK/AFP via Getty Images

Tesla CEO Elon Musk has made an adjustment to his financing plan for his proposed $44 billion purchase of Twitter.

The revision would cut $6.25 billion from the lending package Musk had previously lined up for the Twitter buyout, according to a regulatory statement.

That means Musk will need to raise that sum in stock commitments instead of debt. That brings the equity portion of the deal to $33.5 billion, up from the $27.25 billion disclosed three weeks ago.

The move raised investor hopes that Musk still intends to make the deal...

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