X.AI Corp., backed by Tesla CEO and X owner Musk, is conducting an equity securities offering of up to $1 billion, according to regulatory filings.
The company has sold $134.7 million in securities, and $865.3 million remains unsold, according to filings with the U.S. Securities and Exchange Commission (SEC). The company accepts a minimum investment of $2 million from any outside investor.
Musk, who took over Twitter and renamed it X, is an executive officer and director of X.AI, the filing said.
Also listed in the filing is an executive named Jared Birchall, a former Goldman Sachs, Merrill Lynch and Morgan Stanley executive who was reportedly the manager of the Musk family office. (Coindesk)