The Wall Street Journal said Wednesday that Elon Musk and his team are considering using up to $3 billion in a new fundraiser to pay off part of Twitter’s $13 billion (NYSE: ) debt, but Musk himself denied those claims in a tweet. .
The report said sources said Musk’s representatives discussed the possibility of selling up to $3 billion in new Twitter shares in December.
He adds that Musk’s team told people familiar with the company’s finances that the stock raise, if successful, could be used to pay off unsecured debt.
However, after quickly dismissing the message, Musk responded to the Twitter user who posted a photo of the news by writing “no.”
The WSJ writes in its report that in mid-December, Musk’s team was in talks with existing backers to raise new capital at the original takeover price of Twitter.