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Elon Musk is interested in finding new investors in the capital of Twitter.

Published: 2022-12-17

After buying Twitter at the end of October, Elon Musk has already expressed concern about the possibility of bankruptcy of the company, and his subsequent reforms scared away advertisers, who still form up to 90% of the social network's revenue. Sources now say that Elon Musk's team is busy looking for new investors for Twitter, to whom the company's shares will be offered at a price of $54.20 apiece.

This was reported by Semafor, citing informed sources. Musk's business manager Jared Birchall has been looking into demand for an additional Twitter share offering in recent weeks, and has received positive response from many potential investors, according to the source. This, it is believed, allows Elon Musk's team to look forward to the success of a new round of capital raising on Twitter, which should take place before the end of this year. Investors will be offered shares of the company at a price of $54.20 per share - exactly the same amount paid for them by Elon Musk himself at the end of October.

Some of Twitter's potential investors have already confirmed that Musk's representatives approached them with a similar offer. Many of these investors simultaneously own large stakes in Tesla, so the audience is selected quite loyal. Elon Musk recently sold $3.6 billion worth of Tesla shares. Although he did not mention the use of the proceeds for the intended purpose, it is believed that they will be used to cover Twitter's debt obligations, which rose to $13 billion after the deal at the end of October. since the end of last year, the head of Tesla has sold the company's shares for $40 billion, since the beginning of the year their rate has decreased by 57%. Apparently, the main owner of Twitter would like to share the risks with his like-minded people while continuing to reform the company's business.