"As of December 23, 2022, Twitter remains in default of
its obligations to Innisfree under the Agreement in an amount of not less than
$1,902,788.03," the lawsuit said.
Twitter and a lawyer for Innisfree did not immediately
respond to request for comment.
Musk in October closed the $44 billion deal announced in
April that year and took Twitter private.
Last month Britain's Crown Estate, an independent commercial
business that manages the property portfolio belonging to the monarchy, said
that it had begun court proceedings against Twitter over alleged unpaid rent on
its London headquarters.
Advertising spending on Twitter dropped by 71 percent in
December, data from an advertising research firm showed, as top advertisers
slashed their spending on the social-media platform after Musk's takeover.
The banks providing $13 billion in financing last year for
the Tesla chief executive's acquisition of Twitter abandoned plans to sell the
debt to investors because of uncertainty around the social media company's
fortunes and losses, Reuters reported last month.
Twitter made its first interest payment on a loan that banks
provided to help finance Musk's purchase of the social media company last year,
Reuters reported last month.
It was reported last month that Elon Musk's team has been
exploring using as much as $3 billion in new fundraising to help repay some of
the $13 billion in debt tacked onto Twitter for his buyout of the company.
Musk's team has said to people familiar with the finances of
the company that an equity raise, if successful, could be used to pay down an
unsecured portion of the debt that carries the highest interest rate within the
$13 billion Twitter loan package. © Reuters
0 comments:
Post a Comment