TWITTER, INC.

(TWTR)
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Delayed Nyse  -  04:03 2022-06-29 pm EDT
37.80 USD   -2.55%
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Twitter Shares Rise 7.6% After Musk Allows Loan Commitments to Expire, Commits to More Financing

05/25/2022 | 03:33pm EDT

By Denny Jacob


Twitter Inc. shares rose 7.6% to $40 in after-hours trading Wednesday after Elon Musk allowed loan commitments connected to his takeover of the social media platform to expire, and committed to more funding in the deal.

The Tesla Inc. chief executive committed to provide an additional $6.25 billion in equity financing to fund a portion of his planned acquisition of Twitter, according to securities filings. This brings the aggregate principle amount of the equity commitment to $33.5 billion.

Mr. Musk also allowed the remainder of the margin loan commitments in the commitment letter from Morgan Stanley Senior Funding Inc. and other financial institutions, which committed to provide Mr. Musk up to $12.5 billion in margin loans to fund a portion of his acquisition, to expire, according to securities filings.

Mr. Musk may replace portions of the previous financing commitments, according to the filings.

The filings also said he is having discussions with certain existing shareholders, including former Twitter CEO Jack Dorsey, about the possibility of contributing common stock shares to a parent entity at or immediately prior to the close to retain a stake in the parent entity or Twitter after a merger is complete.

Twitter CEO Parag Agrawal told shareholders the company is proceeding with work on the agreed $44 billion takeover by Mr. Musk after the billionaire said the deal was "temporarily on hold," The Wall Street Journal reported Wednesday.


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

05-25-22 1733ET

Stocks mentioned in the article
ChangeLast1st jan.
MORGAN STANLEY 0.04% 78.19 Delayed Quote.-20.34%
S&P 500 -0.07% 3818.83 Real-time Quote.-19.82%
TESLA, INC. -1.79% 685.47 Delayed Quote.-33.95%
TWITTER, INC. -2.55% 37.8 Delayed Quote.-10.25%
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Analyst Recommendations on TWITTER, INC.
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Financials (USD)
Sales 2022 5 917 M - -
Net income 2022 525 M - -
Net cash 2022 3 374 M - -
P/E ratio 2022 86,1x
Yield 2022 -
Capitalization 28 838 M 28 838 M -
EV / Sales 2022 4,30x
EV / Sales 2023 3,65x
Nbr of Employees 7 500
Free-Float 83,0%
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Technical analysis trends TWITTER, INC.
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 36
Last Close Price 37,80 $
Average target price 49,78 $
Spread / Average Target 31,7%
EPS Revisions
Managers and Directors
Parag Agrawal Chief Executive Officer & Director
Ned D. Segal Chief Financial Officer
Bret Steven Taylor Independent Chairman
Nick Caldwell GM-Core Technologies
Aditya Vimalkumar Agrawal Chief Operating Officer
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