Tesla Inc Chief Executive Officer Elon Musk has secured over $7 billion in new financing commitments for the acquisition of Twitter, a company filing showed on Thursday.
The investors who committed financing include the world's largest crypto exchange Binance, Oracle Co-founder Larry Ellison, Vy Capital, and Sequoia Capital Fund among others. Last month, Musk struck a deal to buy Twitter for $44 billion.
The move comes as Musk's margin loan was reduced to $6.25 billion from $12.5 billion announced earlier, according to the filing.
Musk's $21 billion financing commitment was also revised to $27.25 billion.
Musk will continue to hold talks with existing shareholders of Twitter, including the company's former chief Jack Dorsey, to contribute shares to the proposed acquisition, the filing showed.