94Ha Viewpoint
Elon Musk’s social platform X raised nearly $1 billion from investors in a new round of equity financing, according to people familiar with the matter. The deal values the company at about $32 billion, roughly in line with the valuation Musk plans to take it private in 2022.
Musk himself participated in the equity financing, some of the people said. They asked not to be named because they were discussing private information. One of the people said the company is considering using some of the proceeds to repay remaining debt.
The deal values X at about $32 billion, and Musk’s acquisition of Twitter includes at least $12.5 billion in debt, meaning the enterprise value when the latest round of financing is completed is roughly the same as the $44 billion when Musk originally acquired it.
Darsana Capital Partners, which bought some of X’s debt earlier this year, participated in the round, some of the people said. 1789 Capital, an investment firm that has invested in xAI and SpaceX, also participated in the round, according to people familiar with the matter.
