Elon Musk offered an additional $6.25 billion in equity financing on Wednesday to help fund the $44 billion offer for Twitter Inc (TWTR.N), bringing his Tesla Inc (TSLA.O) margin loan to zero.
Even though Musk had last week connected the purchase’s progress to Twitter delivering proof that spambots accounted for less than 5% of total users, the revelation made in a regulatory filing on Wednesday indicated Musk is attempting to conclude the deal.
While he doubted that spambots accounted for at least 20% of users, Elon Musk, the world’s richest man and Tesla’s CEO, hinted that he could negotiate a lower price for the social media firm.
Musk said on Wednesday that he was in talks with shareholders, including Twitter CEO Jack Dorsey, for further funding commitments to help fund the deal.
In extended trading, Twitter shares rose nearly 6% to $39.15. Musk could not be reached for comment right away.
He took out a $12.5 billion margin loan at first, but after bringing in co-investors, he cut it to $6.25 billion early this month.
Musk announced in April that he had secured $46.5 billion in debt and equity finance to purchase Twitter, with Musk contributing $33.5 billion.
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