TWTR - Musk confirms letter sent to go through with Twitter deal

• Elon Musk confirmed the sending of a letter to Twitter ( NYSE: TWTR ) proposing the completion of the $44B buyout deal he had agreed to (and then tried to abandon).
• In an updated SEC filing , Musk attached the letter his attorneys sent.
• He proposed going through with the deal pending a stay of the Twitter v. Musk et al. trial action, as well as receiving the debt financing.
• "On behalf of X Holdings I, Inc., X Holdings II, Inc. and Elon R. Musk (the “Musk Parties”), we write to notify you that the Musk Parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement, on the terms and subject to the conditions set forth therein and pending receipt of the proceeds of the debt financing contemplated thereby, provided that the Delaware Chancery Court enter an immediate stay of the action, Twitter vs. Musk, et al. (C.A. No. 202-0613-KSJM) (the “Action”) and adjourn the trial and all other proceedings related thereto pending such closing or further order of the Court."

For further details see: