On April 14, Elon Musk announced that he had submitted an offer to buy Twitter and included a link to its filing with the US Securities and Exchange Commission.
In the filing, Musk said he offered to buy all of Twitter’s shares for $54.20 per share. Followers were quick to note that Musk’s price included the number “420”, referring to marijuana.
It’s funny that this isn’t the first time Musk has tweeted using these numbers…
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in SEC depositMusk said he had offered to buy all Twitter shares for $54.20 each, which amounts to a total of $41.4 billion (£31.5 billion) based on 763.58 million shares outstanding, according to Refinitiv.
In a letter to the head of Twitter, Brett Taylor, Musk advertiser He invested in Twitter because he believes it can be a “platform for freedom of expression worldwide.” He wrote: “I believe that freedom of expression is a societal necessity for a functioning democracy.”
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“However, since I made my investment, I now realize that the company will not thrive and will not serve this societal necessity in its current form. Twitter needs to transform into a private company,” Musk continues.
Musk joke explained 420
This isn’t the first time Musk has tweeted about stock prices using the number “420,” and in fact, he’s had trouble with it in the past.
In 2018, the Securities and Exchange Commission (SEC) sued Musk after he tweeted that he had “secured funding” to take Tesla private at $420 per share.
suit Accused Musk from false or misleading statements. Tesla and Musk have settled the lawsuit Pay $20 million in civil fines each.
The filing discusses Musk’s reasons for choosing $420 for the stock price in his tweet and explains:
Musk stated that he rounded the price down to $420 because he recently learned about the importance of the number in marijuana culture and thought his girlfriend “would find it funny, admittedly not a good reason to choose the price.” “
What do followers think?
Musk’s followers were accustomed to the tech giant’s sense of humor, and many soon discovered a reference to marijuana in the price he offered Twitter stocks.
While the number is $54.20, people couldn’t help but notice the placement of 4 next to 20. Although this is much more accurate than the previous reference to 420, followers are convinced that Musk chose that price on purpose.
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