Binance Invested $500 Million In Twitter And Is The Fourth Largest Contributor In THe Acquisition

2022-05-06 04:17:40

According to data by the US Securities and Exchange Commission, Binance is the fourth largest co-investor in the $44 billion buyouts of Twitter courtesy of Elon Musk, and invested $500 million.

Moreover, the report shows that crypto exchange Binance is right behind the Lawrence J. Ellison Revocable Trust with $1 billion in contributions, Sequoia Capital with $800 million, and VyCapital with $700 million.

In addition to Binance and Sequoia Capital, other representatives from the crypto community that were part of the list of co-investors in Elon’s Musk Twitter buyout include the Research Company, and Fidelity Records, making for a substantial percentage of the total number of 18 contributors from various industries.

Furthermore, the news broke out after the co-founder and CEO of Binance, Changpeng Zhao took to Twitter and wrote ” A small contribution to the cause.”, referring to the $500 million invested in the social platform Twitter.

All in all, Elon Musk received roughly $7.2 billion as a result of the merger contract that allows for co-investment financing commitments.

Consequently, each and every one of the equity investors on the list that is mentioned in the official document has consented to immediately contribute/co-invest before the acquisition is closed. In addition, the documents reveal further details as to the price of common shares, as well as obligations and requirements.

Equity Investors have retained an option to satisfy such Equity Investor’s equity commitment with shares of common stock held by such equity investors, valued at $54.20 per share.US Securities and Exchange Commission

Elon Musk purchased Twitter for $44 billion on the 25th of April, with the final transaction expected to be complete somewhere later in 2022, after receiving the approval of all shareholders at Twitter, in addition to the regulators.

However, ever since Musk bought Twitter, the community on this social platform started to divide on whether this is a smart idea or not.

On one said there are those who oppose the idea of Musk to allow open dissensions and more free speech, while on the other spectrum there are those who support the billionaire and believe that he is the right person to clean the platform from spam and scam bots, and improve the overall communication among the users.

 

 

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