Elon Musk has stated that he intends to proceed with his original $54.20 per share offer to acquire Twitter.
According to a letter filed with the Securities and Exchange Commission, Musk will proceed with the $44 billion acquisition pending receipt of the deal’s debt financing.
In April of this year, Twitter accepted Musk’s offer for the first time.
The billionaire informed Twitter in July that he was planning to terminate the deal after alleging the company breached its obligations by misrepresenting the number of spam and fake accounts on the platform.
However, Twitter maintained that spam and fake accounts make up less than 5% of its users.