特斯拉 CEO、Space X创始人埃隆·马斯克收购Twitter事件又有了新的进展。In order to take down$Twitter (TWTR.US) $Musk paid 21 billion dollars out of his own pocket.$Tesla, Inc. (TSLA.US) $What does it mean?
Source: Wall Street
Some netizens joked on Twitter that Tesla, Inc. seems to have been abandoned by Musk.
New progress has been made in the acquisition of Twitter by Tesla, Inc. CEO and Elon Musk, founder of Space X.
On Thursday, Musk filed with the Securities and Exchange Commission (SEC) detailing $25.5 billion in debt financing from Morgan Stanley and other financial institutions, including margin loans backed by his equity in Tesla, Inc.. In addition, Musk himself will provide $21 billion in equity financing.
In other words, Musk has received $46.5 billion to buy Twitter, but more than 2/3 of that money is either out of his own pocket or secured by his Tesla, Inc. stock.
So will Musk consider selling a stake in his beloved Tesla, Inc. to buy Twitter?
Mr Musk has bought a stake in Twitter9.1% for $2.6 billion in recent months and now has about $3 billion in cash or other liquid assets, according to Bloomberg estimates. His shares in Tesla, Inc. and Space X add up to about $184 billion.
Mr Musk needs to pledge about 58.7 million shares of Tesla, Inc. to secure a $12.5 billion margin loan included in the debt financing. This will bring the total number of shares pledged by him to about 85% of his shares. The margin loan documents did allow Mr Musk to sell his unpledged Tesla, Inc. shares.
Unpledged shares are worth more than $25 billion, so if Mr Musk chooses to sell them all, coupled with the cash he now has, it will be enough to pay for after-tax equity financing of $21 billion.
But it has also raised concerns among investors and analysts that if Mr Musk is distracted by the acquisition of Twitter and may even fund the deal by selling Tesla, Inc. shares, it will affect Tesla, Inc. 's normal operations.
Some netizens even joked on Twitter that Tesla, Inc. seems to have been abandoned by Musk.
The picture is from Twitter
According to CNBC, Gene Munster, managing partner of Loup Ventures, a venture capital firm that owns Tesla, Inc. 's shares, said:
Mr Musk and Jared Birchall, managing director of the Musk family office, did not respond to requests for comment on how Mr Musk plans to raise $21 billion.
Tesla, Inc. 's shares rose 3.23% to $1008.78 at the close of trading on April 21.
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