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According to foreign media reports, people familiar with the matter revealed that Musk’s team has been exploring potential new financing of up to $3 billion to help repay some of the $13 billion in debt he has incurred on the company due to his acquisition of Twitter. In December, Musk’s representatives discussed selling up to $3 billion in new Twitter shares. The equity raise, if successful, could be used to pay down the highest-interest unsecured debt portion of Twitter’s $13 billion loan program, Musk’s team told people familiar with the company’s finances. Paying off that portion of the debt would provide Twitter with much-needed financial relief. (interface)
media reports
Sina 36Kr Tencent Technology
Event Tracking
- 2023-01-26 US media: Musk seeks to raise $3 billion to repay the debt owed by the acquisition of Twitter
- 2023-01-21 Musk: Twitter will launch a high-priced zero-ad subscription model
- 2023-01-21 Musk may have laid off 80% of his staff after taking over Twitter, leaving only about 1,300 full-time active employees
- 2023-01-18Twitter continues to lay off employees: the number of employees may drop to pre-IPO levels
- 2023-01-13 Musk adjusts Twitter API, third-party clients can no longer connect
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