Musk team eyes new investors for Twitter, Semafor reports

The managing director of Tesla (TSLA) CEO Elon Musk’s family office is looking for new equity investors for Twitter (TWTR) amid user grievances, a loss of advertisers, and looming debt payments, Semafor’s Liz Hoffman and Reed Albergotti report, citing two people familiar with the fundraising effort. Jared Birchall, the Twitter owner’s money manager, contacted potential investors this week, offering shares of the social media company at the same price, $54.20, that Musk paid to take the company private two months ago, the authors note. "Over recent weeks we’ve received numerous inbound requests to invest in Twitter," the outreach reads, according to a copy reviewed by Semafor. "Accordingly, we are pleased to announce a follow-on equity offering for common shares at the original price and terms, targeting a year-end close." Tesla investor Ross Gerber confirmed he was contacted this week about a funding round, the authors say. Reference Link