Telegram, a messaging platform, raised $ 1.7 billion from investors in a recent bond offer with a 9% coupon that closed on May 28.
According to Bloomberg, the company will use part of the product to pay $ 955 million in debt for a preceding bond issue which would mature in 2026. The remaining $ 745 million are a new capital for growth and operational costs.
The co-founder of Telegram, Pavel Durov, wrote in a telegram article:
“The investors’ response was phenomenal. We are deeply grateful to the investment funds that have supported us over the years. Due to high demand, we have expanded the supply beyond the $ 1.5 billion initial dollars – but demand has further exceeded what we could allocate. ”
Telegram continues to attract the attention of investors while the Crypto friendly messaging company extends its scope and its global features. The platform is widely used in the cryptographic community and is considered a vehicle to facilitate traditional adoption.
Investors participating in the sale, which included the asset manager of Blackrock and the investment company Abu Dhaba Mubadala, have the possibility of buying Telegram shares in a future Potential Public Offer (IPO) to a 20%discount.
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Telegram’s provisional agreement with Musk XAI
The sale of bonds follows several recent developments in Telegram, including an agreement between the messaging company and the XAI of Elon Musk, the artificial intelligence company behind Grok.
Telegram and Xai would have agreed to give Telegram users access to Grok for 1 year, Durov wrote in a post on May 28. The company will receive $ 300 million in cash and equity from XAI and “50% of XAI subscriptions sold via Telegram”.
Musk later denied that an agreement between the two companies was signed. According to Durov’s response, formalities on the agreement “are pending”.
Toncoin (tone), the only digital active in Telegram accepted for application services, jumped more than 20% to $ 3.69 on May 28, after the announcement of the partnership.
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