Friday, January 27, 2023
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HomeNewsBusinessElon Musk requests more funding from Twitter’s investors

Elon Musk requests more funding from Twitter’s investors

The Company has been in business for almost 75 years, serving as North America’s biggest independent processor of crude C4 and a pioneer in all of its product categories. Additionally, the business offers crucial logistics and infrastructure services to Gulf Coast petrochemical companies.

Young Conaway Stargatt & Taylor, LLP, Evercore, and Paul Hastings LLP are the advisors to the holders of the Supporting Notes.

Baker Botts L.L.P., Morris, Nichols, Arsht & Tunnell LLP, Simpson Thacher & Bartlett LLP, Moelis & Company, and FTI Consulting are advising the Company during this process.

Dundon Advisers, LLC, Cole Schotz, P.C., and Akin Gump Strauss Hauer & Feld LLP are the legal counsel for the Official Committee of Unsecured Creditors.

Axios was unable to reach the Twitter communications department or any other spokesmen for comment.

Outside investors like Andreessen Horowitz, Sequoia Capital, Fidelity, and Oracle founder Larry Ellison contributed to the funding of his initial takeover. A number of significant Twitter investors also increased their stock shares, including Kingdom Holding Business of Saudi Arabia and company co-founder Jack Dorsey.

Rewind: Despite repeatedly promising earlier this year not to do so, Musk sold over $3.58 billion of Tesla stock earlier this week.

Musk hasn’t disclosed the reason for the sale, or whether it was done to help Twitter refinance any of the high-interest loans the company is carrying as a result of Musk’s acquisition.

News Summary:

  • Elon Musk requests more funding from Twitter’s investors
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