Elon Musk’s xAI files with SEC for private sale of $1B in unregistered securities

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. 5.

xAI filed the SEC’s Form D to allow it to engage in the private sale of securities without registration. The form is used to comply with Regulation D of the Securities Act of 1933, which provides exemptions to the standard rules. On the form, Musk is listed as the executive officer and director of the business.

Access to Grok is currently severely limited. Source: x.ai

The xAI Form D further clarifies that the securities will be sold to accredited investors with…

Read more on Cointelegraph

22.7K Reads