The company is expected to sell shares at $70 per share, an increase of 25% from the last trade, the newspaper said on Monday, adding that existing shares will be traded, not new ones. Musk owns 44% of SpaceX shares, the newspaper noted.
Musk reached an agreement with Twitter on the acquisition of the social network for $54.20 per share in a transaction valued at approximately $44 billion in late April.
Elon Musk later said that he would like to revolutionize Twitter’s role in public debate, as "free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated."