Twitter turns positive amid report Musk seeking extra financing for buyout
Maja Hitij/Getty Images News

Twitter stock (NYSE:TWTR) has bounced off its session low to turn positive, +0.7%, following a Reuters report that Elon Musk is in talks over new financing for his $44 billion bid for the social media company, with an eye toward tying up less of his own wealth in the deal.
Musk had committed to spending some $21 billion of his own cash for the deal, and banks agreed to offer $13 billion in loans secured against Twitter - but the banks balked at offering more than that because of limited cash flow at Twitter (TWTR).
He had also secured a $12.5 billion margin loan secured against his Tesla (TSLA) stock, but has talked with big investment firms and high-net-worth individuals perhaps seeking to trim the margin loan size. Reuters says Apollo Global Management (APO) and Ares Management (ARES) are among the private-equity firms in the discussion.
That could come via preferred equity financing, which would offer a fixed dividend but also equity appreciation.
Filings now show that Musk's sales of Tesla (TSLA) stock have topped $8 billion, almost surely in connection with setting up financing for the Twitter takeover.
Musk has also talked with some major Twitter (TWTR) investors - including former CEO Jack Dorsey - about rolling their stake in rather than cashing out, according to the report.