Elon Musk has notified investors that he plans to close his purchase of Twitter by Friday, according to sources close to the situation. Equity investors, including Sequoia Capital, Binance, Qatar Investment Authority and others have received paperwork for the closing from Musk’s lawyers. This is a clear sign that Musk plans to comply with a Delaware court’s deadline to complete the transaction.
The banks that committed to fund Musk’s buyout of Twitter have finished putting together the final debt financing agreement and are in the process of signing the necessary documents, according to a Bloomberg News.
Twitter shares jumped on the news and were trading up 3% at $52.95 on Tuesday, closer to Musk’s offer price of $54.20.
Musk has labeled himself an advocate of free speech and has been critical of Twitter’s censorship of conservative voices.