Elon Musk is reportedly planning to move ahead with the financing of his acquisition of Twitter, a deal that has been up in the air for months.
A fresh report reveals that Musk told his co-investors to prepare to fund his $44 billion acquisition by Friday, October 28.
Equity investors include Sequoia Capital, Binance, Qatar Investment Authority, and others, and they have received the necessary paperwork. A Delaware judge had ordered the deadline after Musk appeared in court on October 17.
Musk held a call on October 24 with bankers to provide $13 billion in debt financing, according to Bloomberg. He pledged to provide $46.5 billion in equity and debt financing, covering the acquisition price and closing costs.
The equity investors, which include Oracle co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal, will provide $7.1 billion.
In April 2022, Musk offered to purchase Twitter outright for $44 billion, at a price of $54.20 per share. A month later, he put the purchase on hold over a disagreement about spam accounts, demanding proof of claims by Twitter that fewer than 5% of users on the service were fake.