Musk is reportedly seeking investors for Twitter at $54.20 a share -- the same price he paid for it

[highplainsdem]

Last edited Fri Dec 16, 2022, 09:24 PM - Edit history (1)

Tweet from Business Insider minutes ago, then direct link to the article and an excerpt...and then a bit of additional info from the Financial Times, which I'm editing to add.

Link to tweet

https://www.businessinsider.com/musk-seeking-investors-for-twitter-at-5420-a-share-2022-12

Twitter appears to be struggling.

Users are leaving in the platform in droves. Key advertisers are disappearing. And the bills are piling up.

Now, the company is setting its sights on new investors. According to a report from Semafor, Jared Birchall, the manager for Elon Musk's family office "reached out to potential investors this week."

Birchall is apparently offering shares of Twitter to investors for the price of $54.20 a piece, Semafor reported. That's the same price that

-snip-

The Financial Times has an article on this at https://www.ft.com/content/bb047c8f-f97d-4e3a-8bbb-50d0494c8c48 .

According to their article, one investor who got the offer said "everything has been done haphazardly and roughly" and they're offering to sell this stock because they're out of money.

Another investor who got the offer said Musk is saying the additional capital is partly to fund a "hiring spree" of programmers to build a "super app" to process payments.

And Musk will also be trying to sell this in a series of calls to investors..