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Musk allegedly in search of new investors for Twitter at $54.20 per share

17 December 2022 05:05 (UTC +04:00)

Tesla Inc. and Twitter Inc. Chief Executive Officer (CEO) Elon Musk is searching for new investors for Twitter and is offering shares of the company at $54.20, the same price he paid to take the firm private, Semaphor said on Friday, APA reports citing Teletrader.

"Over recent weeks, we've received numerous inbound requests to invest in Twitter," read a document reviewed 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."

At least one Tesla investor, quoted by the newspaper, confirmed that he was reached out about another round of funding at the $44 billion valuation. The same person added he wants to get a more precise idea of what the plan is. "One could argue he has created value or destroyed value at Twitter. It's hard to tell at this point," he said.