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IPFS News Link • Social Networking/Social Media

Twitter Jumps After Musk Files 13D Signaling Tender, 'Funding Secured'

• Zero Hedge

Having tweeted a somewhat clear indication that he would be 'tender'-ing for the leftist sanctuary, Elon Musk filed a 13D filing laying out some more details surrounding his considerations and the fact that this time "funding is secured".

Full 13D Filing below:

On April 13, 2022, the Reporting Person delivered a letter to the Issuer (the "Letter") which contained a non-binding proposal (the "Proposal") to acquire all of the outstanding Common Stock of Twitter not owned by the Reporting Person for all cash consideration valuing the Common Stock at $54.20 per share (the "Proposed Transaction"). The foregoing description is qualified in its entirety by reference to the full text of the Letter, a copy of which is attached hereto as Exhibit B and is incorporated herein by reference.

The Proposal was (and remains) non-binding and, once negotiated and agreed upon, would be conditioned upon, among other things, the: (i) receipt of any required governmental approvals; (ii) confirmatory legal, regulatory, accounting and tax due diligence; and (iii) negotiation and execution of definitive agreements providing for the Proposed Transaction. At the time of delivery, the Proposal was also subject to the completion of financing and business due diligence, but it is no longer subject to financing as a result of the Reporting Person's receipt of the financing commitments described below and is no longer subject to business due diligence.

The Reporting Person is seeking to negotiate a definitive agreement for the acquisition of Twitter by the Reporting Person and is prepared to begin such negotiations immediately.