Semafor reports:
The managing director of Elon Musk’s family office is seeking new equity investors for Twitter as users revolt, advertisers flee, and debt payments loom, according to people familiar with the fundraising effort.
Musk’s money manager, Jared Birchall, reached out to potential investors this week, offering shares of Twitter at the same price, $54.20, that Musk paid to take the company private in October, the people said.
“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.”
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Elon Musk’s team is seeking new investors for Twitter, offering the same $54.20-a-share deal and trying to close by the end of the year. Scoop w/ @ReedAlbergotti https://t.co/ujZOYxlfQG
— Liz Hoffman (@lizrhoffman) December 16, 2022