Twitter Inc (NYSE:TWTR) shares are trading higher Thursday after a filing with the U.S. Securities and Exchange Commission showed that Tesla Inc (NASDAQ:TSLA) CEO Elon Musk is making changes to his takeover approach.
Musk initially planned to use a margin loan of $12.5 billion against other holdings to help finance the Twitter acquisition. Now the Tesla CEO has upped his commitment to $33.5 billion.
Musk has "committed to provide an additional $6.25 billion in equity financing to fund a portion of the Merger Consideration ... to increase the aggregate principle amount of the equity commitment thereunder to $33.5 billion," according to the filing.
Related Link: Twitter Shares React After Elon Musk Ups His Commitment To Buy Company
Earlier in May, Musk sent Twitter shares lower after he said he would put the deal on hold while he looked into the percentage of bot accounts on the social media platform. The new SEC filing shows that Musk seems committed to completing the deal.
TWTR Price Action: Twitter has traded between $31.30 and $73.34 over a 52-week period.
The stock was up 3.53% at $38.47 at time of publication, according to data from Benzinga Pro.
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