Elon Musk on Wednesday pledged an additional $6.25 billion in equity financing to fund the $44-billion offer for Twitter Inc, reducing the billionaire’s margin loan against his Tesla Inc shares to zero.
He initially took a $12.5-billion margin loan, but earlier this month reduced it to $6.25 billion after bringing in co-investors.
In April, Musk had lined up $46.5 billion in debt and equity financing to buy Twitter, with Musk himself committing $33.5 billion.
Read more: Reuters
