xAI, Elon Musk’s artificial intelligence modeler, secures an agreement for a private sale of $865.3 million in unregistered equity securities, according to an SEC filing.
Regulatory Filing Details Private Sale Terms
The filing with the United States Securities and Exchange Commission (SEC) outlines that xAI is set to engage in a private sale of securities without registration, utilizing Form D to comply with exemptions provided by Regulation D of the Securities Act of 1933. Elon Musk is listed as the executive officer and director of xAI.