In this photo illustration, Elon Musk Twitter is seen on a smartphone screen with the Twitter logo in the background in Chania, Crete, Greece on April 23, 2022.
Nicholas Kokovelis | Norfoto | Getty Images
Elon Musk, CEO of SpaceX and Teslamay be required to pay a $1 billion termination fee to Twitter, under some circumstances, such as if Musk fails to secure sufficient debt financing to complete his $44 billion deal to buy the company, according to New SEC file.
From the recording (Parent is referring to Musk’s own company created to buy Twitter):
As described above, if the conditions for the obligations of the parent and subsidiary companies of the acquisition are met to complete the merger and the parent company fails to complete the merger as required by the merger agreement, including due to non-equity, debt and/or margin loan financing, it will be required to The guardian is required to pay Twitter a termination fee of $1.0 billion.
Musk offered to buy the company at $54.20 a share and make it private. He said Twitter should act as a digital public sphere that tolerates different viewpoints.
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