Musk secures $46.5 billion in funding and considering a tender offer for Twitter

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Credit: William K Clark

According to a filing with the US Securities and Exchange Commission (SEC), Elon Musk secured $46.5 billion in funding to buy Twitter.

The Tesla CEO is now considering a tender offer for its shares.

According to the filing, Musk is committing $33.5 billion himself, including $21 billion in equity and $12.5 billion on margin loans.

Morgan Stanley along with several financial institutions are providing Musk with an additional $13 billion in debt secured against Twitter itself.

Earlier this month, Musk offered to buy Twitter for $43 billion. However, the company did not respond to the offer and instead adopted a “poison pill” to stop Musk’s efforts.

Musk wants to take Twitter private to grow the platform to be a place where free speech can thrive.

Reporting by Reuters has also confirmed that Musk’s move to buy the company attracted private equity interest in the deal.

Apollo Global Management is considering ways to finance a deal and is open to working with Musk. As well, Thoma Bravo is also exploring an opportunity for a bid.

The SEC filing did not confirm what other financial institutions were involved. Nor did it reveal if any private equity companies were part of securing the funding.

Twitter has yet to provide a comment on the latest move by Musk.

About Scott Nordlund 951 Articles
Originally from the West Coast, Scott is an avid writer & EV enthusiast now living in Ottawa. He holds a MA in Political Science and once played professional football in the German Football League. Email scott@driveteslacanada.ca