Elon Musk is reportedly seeking new investors for Twitter, offering them to buy in at the original acquisition price of $54.20 per share.
Elon Musk is apparently running out of money so fast that he’s looking for you to pony up the cash to keep Twitter alive., the managing director of Elon Musk’s family office reached out to potential or existing investors asking for them to dump more money into the currently money-burning company.
“Over recent weeks we’ve received numerous inbound requests to invest in Twitter,” it read, according to a copy reviewed by Semafor. “Accordingly, we are pleased to announce a follow-on equity offering for common shares at the original price and terms, targeting a year-end close.” Gerber said he’s considering it but wants to get a clearer idea of what the plan is. “One could argue he has created value or destroyed value at Twitter. It’s hard to tell at this point,” he said.
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