Musk offering people to invest in Twitter at original $54.20 per share

Over recent weeks we've received numerous inbound requests to invest in Twitter", Birchall wrote to investors in an email seen by Semafor

IANSUpdated: Saturday, December 17, 2022, 10:56 AM IST
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Elon Musk is aiming to get more investors for Twitter at the original $54.20 per share price, at which he acquired the company for $44 billion.

According to news portal Semafor, Musk's money manager Jared Birchall has reached out to potential investors, "offering shares of Twitter at the same price, $54.20, that Musk paid to take the company private in October".

"Over recent weeks we've received numerous inbound requests to invest in Twitter," Birchall wrote to investors in an email seen by Semafor.

"Accordingly, we are pleased to announce a follow-on equity offering for common shares at the original price and terms, targeting a year-end close," the email read.

According to the report, Tesla investor Ross Gerber, who said he put less than $1 million in Musk's original takeover of Twitter, confirmed that he was contacted again about another funding round at the $44 billion valuation.

The move comes at a time when Musk has frightened away advertisers and banned several journalists.

The new Twitter boss suspended accounts of more than half a dozen journalists from outlets including CNN, the New York Times and the Washington Post, following their reporting on an account related to him.

He suspended the accounts of journalists like Donie O'Sullivan from CNN and Drew Harwell from The Washington Post as they covered the "exact real-time location" of Musk.

He had earlier said that any account doxxing real-time location info of anyone will be suspended, as it is a physical safety violation.

Musk has also been offloading Tesla shares, planning to buy or personally pay Twitter's debt.

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