Monday, June 5, 2023

Musk seeks new investors for Twitter, according to various media – technology – ABC Color

NY. According to various specialized media, Elon Musk is looking for new investors for Twitter and is offering shares at the same price for which he acquired the company a few months ago.

The notification was forwarded by Semaphore and confirmed by The Wall Street Journal, after investors who received this new offer to put money into the social network were contacted.

Among them is Ross Gerber, president of the investment firm that contributed just over a million dollars to the operation in which Musk took over Twitter and who was approached on Thursday about the possibility of buying more shares in the company .

According to these media, the titles are being offered at a price of $54.20, the same price that Musk paid and worth Twitter at approximately $44,000 million.

The billionaire spent months trying to break or renegotiate the deal to take over the company, which has been the subject of much controversy since the acquisition and has seen several advertisers withdraw their advertising.

Musk himself acknowledged last month that Twitter had seen a sharp drop in revenue and spoke of a possible bankruptcy risk in the future.

As part of the purchase transaction, the company took on $13 billion in debt, so it faced large interest payments for years to come.

Musk, for his part, has in recent months sold billions of dollars in shares of Tesla, the electric vehicle company he runs and in which he has concentrated most of his immense fortune.

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