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Musk's financing is secured in part by his Tesla stock. Rumor had it that $740 was the share price where the lenders had the contractual right to withdraw their
by ericbarrett 4y ago
Musk's financing is secured in part by his Tesla stock. Rumor had it that $740 was the share price where the lenders had the contractual right to withdraw their financing. As I write this, TSLA is $716. (Don't remember where I read that; but whether or not it's the actual price, I'm sure such a clause exists.)
- KennyBlanken 4y agoThe margin loan required less than 40% drop in price https://www.nytimes.com/2022/05/06/business/elon-musk-tesla-twitter.html https://www.nytimes.com/2022/05/06/business/elon-musk-tesla-... He's currently trying to ditch the margin loan: https://www.bloomberg.com/news/articles/2022-05-12/musk-seeks-to-scrap-tesla-margin-loan-with-new-twitter-funding https://www.bloomberg.com/news/articles/2022-05-12/musk-seek...