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Twitter acknowledges Elon Musk’s “unsolicited, non-binding” $43B offer

Tesla CEO Elon Musk wears a Plaid Mode jacket at the company's Model S Plaid Delivery Event on June 10th, 2021. (Credit: Tesla)

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Twitter has acknowledged Tesla CEO Elon Musk’s $43 recent billion acquisition offer, which was outlined in a filing with the US Securities and Exchange Commission. A press release from the social media company featured a rather interesting section, with Twitter specifically describing Musk’s offer as an “unsolicited, non-binding proposal.” 

Musk’s $43 billion acquisition offer proposed a complete purchase of Twitter at $54.20 per share in cash. According to a filing from the Tesla CEO, $54.20 per share represents a 54% premium over the company’s closing price when he started buying shares and a 38% premium over the day before his holdings were announced. 

Twitter noted that its Board of Directors would be carefully reviewing the Tesla CEO’s acquisition offer. The social media platform added that its Board will be determining the course of action that would be in the best interest of Twitter and its shareholders. 

“Twitter, Inc. today confirmed it has received an unsolicited, non-binding proposal from Elon Musk to acquire all of the Company’s outstanding common stock for $54.20 per share in cash. The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders,” the press release read. 

In his offer, Musk noted that Twitter has a lot of potential, though the company would likely not be able to achieve it if it remains publicly-traded. With this in mind, Musk stated that it would be best to take Twitter private, so that he could “unlock” it. Musk highlighted that his $54.20 per share proposal is his “best and final” offer and that if it is not accepted, then he would need to reconsider his investment in the company. 

“Since making my investment, I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company. As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter, and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer, and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk’s filing read. 

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Musk has hired Morgan Stanley as his adviser for his Twitter takeover plans. So far, Twitter investors seem to be appreciative of the Tesla CEO’s proposal, with TWTR stock rising over 10% in Thursday’s premarket. It should be noted, however, that Musk’s offer of $54.20 per share falls below Twitter’s all-time high, which was reached in February 2021. During the time, Twitter shares traded as high as $77.06 per share, though the stock has fallen to about $33 per share as of late. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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SpaceX nails “Lucky 13” astronaut launch, leaning into Tesla tradition and superstition

SpaceX launched Crew-13 astronauts to the ISS Thursday, setting up a record fast Dragon docking.

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Crew Dragon sits atop Falcon 9 at sunrise on Cape Canaveral's pad 40, less than a day before four astronauts are set to launch to the ISS. (Credit: SpaceX)

SpaceX launched NASA’s Crew-13 mission to the International Space Station on Thursday morning, getting four astronauts to orbit despite a forecast of thunderstorms and gusty winds that had threatened to push the flight to Friday.

Falcon 9 lifted off from Space Launch Complex 40 at Cape Canaveral Space Force Station at 11:10 a.m. ET carrying Dragon Grace, NASA confirmed. On board are NASA commander Jessica Watkins, NASA pilot Luke Delaney, Canadian Space Agency astronaut Joshua Kutryk and Roscosmos cosmonaut Sergey Teteryatnikov. The first stage booster, B1101, landed at Landing Zone 40 beside the pad on its third flight after previously supporting Crew-12 and a Starlink mission.

It was the first spaceflight for Delaney, Kutryk and Teteryatnikov. Watkins, who flew on Crew-4 in 2022, became the first NASA astronaut to launch aboard a Crew Dragon twice.

Before launch, the crew rode to the pad in Teslas, a tradition on NASA’s SpaceX crew flights since 2020. This time the cars carried specialty plates reading “Lucky 13.” Watkins said the mission patch leans into the number on purpose, as a nod to Apollo 13 and the resilience of that crew.

Grace is now on a short trip to the station. Docking at the forward port of the Harmony module is scheduled for about 7 p.m. ET, roughly 7 hours and 50 minutes after liftoff, which Space.com notes would be the fastest Crew Dragon transit to the ISS yet. Most Dragon flights take around 15 to 24 hours to catch the station. Hatch opening is planned for 8:25 p.m. ET.

The launch came more than two weeks later than originally planned. An oxidizer leak was found in Grace’s propulsion system in August, and NASA and SpaceX added time for tests. That pushed back the return of Crew-12, which has been aboard the station since February and is now set to splash down off Southern California next week. Crew-13 is expected to stay about six months.

SpaceX rescue mission for stranded ISS astronauts nears end — Here’s when they’ll return home

SpaceX already holds NASA orders for crew rotations through Crew-17, while Boeing is preparing an uncrewed Starliner flight to the station as early as December.

Crew-13 was only the first of three SpaceX launches planned for Thursday, as Teslarati previewed on Wednesday. A Falcon 9 launched its Transporter-18 mission from California today, where Google will be launching its first orbital artificial intelligence (AI) test satellite. Meanwhile, Falcon Heavy is set to launch the classified NROL-97 mission for the National Reconnaissance Office from Launch Complex 39A at 11:53 p.m. ET. Its two side boosters will return to Landing Zones 1 and 2, which means Central Florida could hear up to three sonic booms in a single day. The busy stretch follows Starship’s Flight 14 on Monday, which reached orbit for the first time.

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Tesla moves forward on Wireless Charging for vehicles

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Credit: Tesla | X

Tesla has moved its Wireless Charging efforts for its electric vehicles forward, as it had a new patent published today, one that it submitted back in March.

The patent describes a system for detecting foreign objects on the wireless charging pad under varying temperatures, aiming to mitigate any undesired results that could come from something being on top of the charging pad.

The abstract of the patent states:

“The present disclosure relates to methods and systems that can reliably detect foreign objects on a wireless charging pad under varying temperatures. In some examples, an object detector can utilize a set of inductive coils included in resonant tanks, and excite the resonant tanks using signals in a range of frequencies including or near a nominal resonant frequency of the resonant tanks. The object detector can detect a metal object based on resistance of a coil increasing and inductance of the coil decreasing. By analyzing the shifts and/or distributions in resonant frequencies and output magnitudes (e.g., output voltage peaks), the object detector can distinguish between changes of frequencies and magnitudes caused by temperature and those caused by foreign objects to accurately detect the foreign objects.”

The object detection system will utilize a set of inductive coils included in resonant tanks, and “excite the resonant tank using signals in a range of frequencies including or near a nominal resonant frequency of the tanks.” Metal can be detected by an increase in the coil’s resistance and a decrease in the coil’s inductance.

By analyzing shifts or disruptions in resonant frequencies and output magnitudes, the system can detect foreign objects. These types of safeguards need to be implemented through the normal operation of the charging pads.

Tesla says its Cybercab wireless charging efficiency is ‘well above 90%’

Tesla plans to utilize wireless charging with Cybercab and Robotaxi-enabled units to help streamline the fully autonomous experience from A to Z. The last thing the company wants to do is have any sort of small obstruction preventing the rider from experiencing Robotaxi as intended.

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Tesla launches improved Model 3 in China with V2L, new interior option

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Credit: Tesla

Tesla has launched its newest iteration of the Model 3 in China with a slew of new features, including the highly requested V2L (vehicle-to-load) feature and a new interior option.

The Model 3 now has a 16″ front touchscreen with improved resolution, a black headliner, V2L capabilities, Zen Grey interior in the Premium and Performance trims, as the White option has officially been discontinued, and 19″ Dark Nova Wheels, which are standard on the Model 3 Premium only.

The touchscreen in the U.S. version of the Model 3 is just 15.4″, so the newly upgraded screen is .6″ larger. Additionally, the Black Headliner, now standard on Model Y vehicles in the U.S., is coming to China.

Additionally, Tesla’s decision to end the white interior option has also made its way to the Asian market, as Zen Grey is the lighter color consumers can now go with. It is slightly different from the previously offered White option:

These options are available in China, Australia, and New Zealand as well, as Giga Shanghai serves those markets, bringing its mass-market vehicles to those countries in the South Pacific.

The Model 3 trims are now priced at:

  • Rear-Wheel-Drive – 235,500 yuan (~$35,000)
  • Long Range Rear-Wheel-Drive – 259,500 yuan ($38,700)
  • Long Range All-Wheel-Drive – 285,500 yuan (~$42,600)
  • Performance – 339,500 yuan (~$50,600)

These features have yet to make their way to the U.S., which might upset some buyers, but it is probably a good sign that Tesla will bring these changes to U.S. trims sometime next year. Potentially, these could come even sooner, as they could be used to stimulate demand for the year-end sales push.

Nevertheless, when things start at Giga Shanghai, they usually end up in the U.S. market. Tesla has also already started to install things like the Black Headliner and larger touchscreen in certain U.S.-built vehicles, so these things will be easy to implement across other vehicles in the lineup.

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