Elon Musk dangles $4 billion Tesla shares, declares "No More Sales Planned" and then submits $4.5 billion in financing

Elon Musk dangles $4 billion Tesla shares, declares "No More Sales Planned" and then submits $4.5 bi ...

Updated at 10:14 am EST

Get Tesla Inc Reportshares jumped higher Friday after CEO Elon Musk claimed he was selling shares of his clean-energy automobile firm after dumping around $4 billion in stock to pay for his $44 billion acquisition of Twitter.

According to records from the Securities and Exchange Commission, Musk sold 4.4 million Tesla shares between the two days of the 27th and 27th day of April, the company negotiated a $54.20 share offer for Twitter.

"There are no more Tesla sales planned following today," Musk said last night, although pre-arranged sales are still possible given the significance of the billionaire''s equity commitment in the Twitter agreement.

Another SEC filing was made public early Friday, stating that Musk had charged between $4.5 and $5 billion in shares on April 28.

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Tesla shares were marked 5.5 percent higher in early Friday trading, bringing their hands down at $929.20 each. Twitter shares were boosted 1.9 percent to $50.07 each.

Twitter''s stock is still at a 6.7 percent low of the bid price Musk was unveiled earlier this month, as investors continue to question Musk''s willingness to close the $44 billion ''take-private'' agreement.

According to reports from the Securities and Exchange Commission that Musk, by some measures the world''s richest man, will be required to pay a $1 billion termination fee if his desire to purchase Twitter and take it private fails.

According to filings, Twitter will also pay Musk a similar amount, although both parties will be permitted to remain until the delivery date is not reached by October 24. Twitter is also able to accept but not solicit a superior offer to Musk''s if one is proposed.

Twitter''s value proposition was dovishly improved, with 661 cents per share improvements, and a 15.4% increase in total revenue, which surpassed $1.2 billion.

Twitter reported a 39.6 million increase in monetizable daily active users, the term for the number of daily users who can view ads.

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