According to a regulatory document released on Wednesday, Elon Musk has promised to provide another $6.25 billion (about 41.8 billion yuan) in equity financing to finance the $44 billion acquisition of twitter, increasing his commitment to equity financing to $33.5 billion.
The latest equity financing will be sufficient to eliminate the scale of margin loans previously promised by musk. The document also shows that musk is negotiating with shareholders such as Jack Dorsey, former CEO of twitter, to provide additional financing commitments for the transaction or retain their existing shares in the acquisition transaction.
Musk also sent a letter to investors who supported the establishment of its holding company to privatize twitter, promising to complete the acquisition. Prior to this, musk said that the acquisition transaction was temporarily suspended in order to find out whether the false or spam account on twitter was lower than the 5% claimed by the company. According to previous reports, musk will temporarily serve as twitter CEO for several months after the transaction is completed.
Affected by the news, Twitter's share price soared 10% in after hours trading on Wednesday. Tesla shares fell 2.2%.