Binance commits $500M to co-invest in Twitter with Elon Musk

Major crypto speech Binance has participated successful Elon Musk’s $44 cardinal acquisition of Twitter, according to information filed with the United States Securities and Exchange Commission.

On May 5, Musk filed an amended wide connection of the acquisition, announcing that Twitter received an aggregate of astir $7.2 cardinal successful caller financing commitments successful transportation with the merger agreement, taxable to the conditions successful co-investor equity committedness letters.

According to the document, Binance is 1 of 18 co-investors successful the acquisition alongside large crypto manufacture players similar Sequoia Capital Fund and Fidelity Management and Research Company.

Having invested $500 million, Binance is the 4th biggest contributor, pursuing Lawrence J. Ellison Revocable Trust, which invested $1 billion. Sequoia Capital and VyCapital donated $800 cardinal and 700 million, respectively.

Binance CEO Changpeng Zhao took to Twitter subsequently aft the filing became public, describing the company’s concern arsenic a “small publication to the cause.”

A tiny publication to the cause. https://t.co/xD9XZxOWfL

— CZ Binance (@cz_binance) May 5, 2022

Each listed equity capitalist mentioned successful the papers has committed to lend to oregon instantly anterior to the closing of the acquisition. “Equity Investors person retained an enactment to fulfill specified Equity Investor’s equity committedness with shares of communal banal held by specified equity investor, valued astatine $54.20 per share,” the papers reads.

This nonfiction is processing and volition beryllium updated.