4 ms·

What caused the board to change course was that Elon Musk filed with the SEC showcasing that he actually has $46 billion in funding secured, via an amended 13D

by gzer0 4y ago

What caused the board to change course was that Elon Musk filed with the SEC showcasing that he actually has $46 billion in funding secured, via an amended 13D filing [1]. This led Twitter's board to take his offer more seriously and many shareholders to ask the company not to let the opportunity for a deal slip away [2]. [1] https://www.sec.gov/Archives/edgar/data/1418091/000110465922048128/tm2213229d1_sc13da.htm https://www.sec.gov/Archives/edgar/data/1418091/000110465922... [2] https://www.reuters.com/technology/exclusive-twitter-set-accept-musks-best-final-offer-sources-2022-04-25/ https://www.reuters.com/technology/exclusive-twitter-set-acc...

NovemberWhiskey 4y ago
I mean, you have to respect Elon's consistency, if not the substance - "funding secured" filing to the SEC on 04/20 for an offer at $54.20.
- NovemberWhiskey 4y ago
  It's amazing. You have to think that $54.20 is a number that Musk insisted on just for a prank. Do we seriously believe that the deal wouldn't have been done at a round $54? If you think it could, that's Musk overspending by >$150M in order to make a pot joke.
  - s1artibartfast 4y ago
    It is very on brand. Musk has a flair for showmanship and a track record of converting memes into cash. I think Elon Musk's Raodster[1] was the most amazing piece of cross-brand marketing in history. I couldn't even speculate how much it added to both Tesla and SpaceX valuations. https://en.wikipedia.org/wiki/Elon_Musk%27s_Tesla_Roadster https://en.wikipedia.org/wiki/Elon_Musk%27s_Tesla_Roadster
  - drexlspivey 4y ago
    The original "Funding Secured" tweet was about taking Tesla private at $420
    - tempnow987 4y ago
      Which would have been a deal actually for whoever did that at $420. But yeah, I wouldn't call him a normal MBA business type
      - drexlspivey 4y ago
        The $420 price was also before a 5-to-1 split if I remember correctly so that would have been a 13x bagger
  - jasonwatkinspdx 4y ago
    It's a way for him to essentially flip off the SEC while his fan base cheers along, for doing something that's effectively impossible for the SEC to challenge legally. It's probably worth a lot more than $150mm, as obnoxious as it is imo.

by gzer0 4y ago

NovemberWhiskey 4y ago

I mean, you have to respect Elon's consistency, if not the substance - "funding secured" filing to the SEC on 04/20 for an offer at $54.20.

NovemberWhiskey 4y ago
It's amazing. You have to think that $54.20 is a number that Musk insisted on just for a prank. Do we seriously believe that the deal wouldn't have been done at a round $54? If you think it could, that's Musk overspending by >$150M in order to make a pot joke.
- s1artibartfast 4y ago
  It is very on brand. Musk has a flair for showmanship and a track record of converting memes into cash. I think Elon Musk's Raodster[1] was the most amazing piece of cross-brand marketing in history. I couldn't even speculate how much it added to both Tesla and SpaceX valuations. https://en.wikipedia.org/wiki/Elon_Musk%27s_Tesla_Roadster https://en.wikipedia.org/wiki/Elon_Musk%27s_Tesla_Roadster
- drexlspivey 4y ago
  The original "Funding Secured" tweet was about taking Tesla private at $420
  - tempnow987 4y ago
    Which would have been a deal actually for whoever did that at $420. But yeah, I wouldn't call him a normal MBA business type
    - drexlspivey 4y ago
      The $420 price was also before a 5-to-1 split if I remember correctly so that would have been a 13x bagger
- jasonwatkinspdx 4y ago
  It's a way for him to essentially flip off the SEC while his fan base cheers along, for doing something that's effectively impossible for the SEC to challenge legally. It's probably worth a lot more than $150mm, as obnoxious as it is imo.