Elon Musk’s xAI files with SEC for private sale of $1B in unregistered securities
"Spicy" AI chatbot Grok hasn’t been seen by the public yet, but it’ll be worth plenty after this securities issue.
Elon Musk’s X-linked AI modeler xAI has an agreement for the private sale of $865.3 million in unregistered equity securities, according to a filing with the United States Securities and Exchange Commission (SEC) made on Dec.
xAI filed the SEC’s Form D to allow it to engage in the private sale of securities without registration.
The xAI Form D further clarifies that the securities will be sold to accredited investors with restrictions on their resale under Rule 506(b).
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