- The fund’s interest in Tesla – Musk met with representatives of a sovereign investment fund (Saudi Arabia’s sovereign wealth fund) three or four times beginning in January 2017.
- The tweet was not some whim – Some have speculated that Musk’s August 7 tweet was just a silly impulse, particularly because the proposed shared price was a reference to marijuana.
- The $420 share price – According to the complaint, Musk calculated the $420 price per share based on a 20 percent premium over that day’s closing share price because he thought 20 percent was a “standard premium” in going-private transactions.
- A 50-50 chance – Musk’s August 7 tweet indicated that funding had been secured. The complaint lays out a much different account.
- Permission granted, request ignored – He told the board he wanted to contact existing shareholders to assess their interest in participating in a going-private transaction, the complaint said.
- An unprecedented transaction structure – During his conversation with a private equity fund partner, who had previous experience with such transactions, Musk said the number of Tesla shareholders needed to be below 300, according to the complaint.
- Is it legit? – Musk’s August 7 tweet triggered a maelstrom of calls, emails and texts from the board, executive staff, analysts and press. Confusion was the theme early on.
Kirsten Korosec / TechCrunch - 2 years ago