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** August 2 - After the U.S. market closed, Musk sent an email with the subject, “Offer to Take Tesla Private at $420,” to Tesla’s board, chief financial officer, and general counsel. — Musk explained his reasons for wanting to take Tesla private, including that being public “[s]ubjects Tesla to constant defamatory attacks by the short-selling community, resulting in great harm to our valuable brand.”. — The SEC said that according to Musk, he had calculated the $420 price per share based on a 20 percent premium over that day’s closing share price, because he thought 20 percent was a “standard premium” in going-private transactions.

Musk picked $420 because he white gold cufflinks engraved had recently learned about the number’s significance in marijuana culture and thought his girlfriend “would find it funny, which admittedly is not a great reason to pick a price,” Musk said in his email to the board, the SEC noted, — Before Musk’s July 31 meeting with the sovereign investment fund, Tesla’s stock had closed at about $298 per share and a 20 percent premium over that price would have indicated a price of about $358, the SEC noted in its lawsuit..

** Aug. 3: In response to Musk’s email, Tesla’s board had a telephone meeting, where Musk told board members that he wanted existing investors to stay with the company. At least one board member told Musk that it would be “really difficult for small investors” to remain shareholders in private Tesla, the SEC quoted Musk as saying. ** Aug. 6 - Musk discussed a potential going-private transaction with a private-equity fund partner with previous experience in such deals. He told the partner that the number of Tesla shareholders needed to execute the transaction would be below 300. At the time, Tesla had over 800 institutional shareholders and many more individual investors, the SEC noted, adding that according to the partner, the transaction structure that Musk was contemplating was “unprecedented.”.

** Aug, 7 - Musk tweeted at about 1248 ET, during market hours: “Am considering taking Tesla private at $420, Funding secured.”, — He went on to post several Twitter white gold cufflinks engraved posts and engaged with other Twitter users regarding his go-private plans, He did not notify Nasdaq prior to publishing his tweets, as required by the stock exchange’s rules, — At this point, the SEC noted, Musk had not made several necessary checks, including not having further discussion with the sovereign fund, providing the board more details, or contacting existing Tesla shareholders to assess their interest in remaining invested in Tesla as a private company..

— Twelve minutes after Musk’s first tweet, Tesla’s head of investor relations sent a text to Musk’s chief of staff asking: “Was this text legit?”. — About 35 minutes after Musk’s initial tweet, Tesla CFO Deepak Ahuja sent him a text message, “Elon, am sure you have thought about a broader communication on your rationale and structure to employees and potential investors. Would it help if [Tesla’s head of communications], [Tesla’s General Counsel], and I draft a blog post or employee email for you?”.

Musk responded, “Yeah, that would be great.”, — Tesla shares closed white gold cufflinks engraved up nearly 11 percent on Aug, 7, ** Aug, 10 - Three days after his tweet, Musk contacted the sovereign wealth fund for the first time since their July 31 meeting, the SEC said, ** Aug, 13 - Tesla published a blog post attributed to Musk called “Update on Taking Tesla Private”, In the post, Musk attempted to walk back his Aug, 7 tweets, saying when he first tweeted his intention, it was based on his impression that there was “no question” that a deal with the sovereign fund could be closed and that it was “just a matter of getting the process moving.”..

WASHINGTON (Reuters) - Boeing Co (BA.N) was selected to build the U.S. Air Force’s next training jet in a contract worth up to $9.2 billion over the life of the program, the Air Force said on Thursday. Boeing teamed up with Sweden’s Saab AB (SAABb.ST) to develop a new plane for the competition, beating out Lockheed Martin Corp (LMT.N) and Leonardo DRS (LDOF.MI). The Air Force currently plans to purchase 351 of the jets and 46 simulators. Additional purchase options on the $9.2 billion contract, first reported by Reuters, could allow the Air Force to buy as many as 475 of the jets and 120 simulators.

The service expects the first jets to be delivered in 2023 with the program to reach full operation in 2034, In its bid, Lockheed had offered a modified version of its T-50 training jet developed jointly with Korea Aerospace Industries Ltd (047810.KS) white gold cufflinks engraved while Italy’s Leonardo DRS had offered the T-100, a modified version of the Italian aerospace company’s M-346, Boeing shares edged higher after the news, to close up 0.6 percent at $367.38, while shares of Korea Aerospace fell more than 24 percent in Seoul, The company said its group lost because Boeing’s bid was lower..

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