Elon Musk, the founder of Tesla (TSLA) is offering to purchase Twitter (TWTR) for $54.20 per share in cash.

According to the regulatory filing on Thursday, it is said that the deal would value the company at about $43B.

Twitter shares are up 12% in premarket trading after stock closing at $45.85 per share on Wednesday.

Elon Musk invested in Twitter with belief of its potential to be the platform for free speech around the globe.

Twitter stock price has seen up around 18.5% since the start of the month.

Despite the recent uptick, Shares was up around 24% in a single trading session on Monday but twitter shares are still down more than 35% from all-time highs.

After it was revealed Elon Musk owns will offer $54.20 cash per share in cash in the company, representing a 54% premium over the Jan.

In Q4 of 2021, Twitter has increased its revenue by 22%YOY and earnings are estimated to rise at an annual rate of 90% in the next five years.

Twitter (TWTR) spiked After it was revealed Elon Musk 's stake and now currently Twitter is near resistance at $52, a high volume area shown by the large volume bars.