It’s been an eventful seven days for Tesla. What started with CEO Elon Musk tweeting he’d like to take the automaker private last Tuesday has only gotten weirder since. In response, the board has formed a special committee to evaluate the business mo…
When we we first met Clementine in Telltale’s The Walking Dead, she was a scared eight-year old hiding in her tree house from the zombie hordes. Over time, she learned how to shoot, scavenge and survive as the world crumbled around her. Mostly, that…
Earth may have one moon we can see, but a flock of much smaller “mini-moons” could end up being far more valuable for both scientific and commercial purposes, new research suggests. Faster moving and far harder to spot, the mini-moons are typically only temporary visitors in orbit. However, if we can start to effectively capture them, that could unlock some … Continue reading
Tesla CEO Elon Musk took many of the company’s shareholders by surprise earlier this month when he tweeted that he’s considering taking the company private at $420 per share. He mentioned in the tweet that the funding for this transaction had been “secured.” Amid reports that Tesla was still in the process of locking down funding for the deal, Musk has now penned a detailed blog post to provide more details about the plan.
Musk wrote on the company’s corporate blog that the Saudi Arabian sovereign wealth fund has approached him multiple times about taking Tesla private “going back almost two years.”
They first met with him in 2017 to express their interest given the need to diversify away from oil, Musk writes. He added that more meetings were held over the next year to reiterate this interest and move forward with a possible transaction to take the company private.
A leveraged buyout is expected to cost around $70 and the Saudi sovereign fund has more than enough capital required for such a transaction. The fund is actually projected to reach $2 trillion in the coming months.
With nothing materializing, the Saudi fund purchased almost 5 percent of Tesla stock through the public markets. They then reached out for another meeting which took place on July 31st this year. Musk writes that the” Managing Director of the fund expressed regret that I had not moved forward previously on a going private transaction with them, and he strongly expressed his support for funding a going private transaction for Tesla at this time.” That’s why Musk tweeted that the funding had been secured for the deal.
Before Tesla decides to ask shareholders to decide on going private, it will provide full details of the plan in addition to the proposed nature and the source of funding to be used. Musk is also having discussions with other investors as he wants the company to have a broad investor base.
He also commented on reports that over $70 billion will be required to take Tesla private. The $420 buyout price would be offered to Tesla shareholders who decide not to stay if the company goes private. “My best estimate right now is that approximately two-thirds of shares owned by all current investors would roll over into a private Tesla,” he added.
Elon Musk Reveals More Details About Taking Tesla Private , original content from Ubergizmo. Read our Copyrights and terms of use.
The Essential Phone was the first non-Pixel smartphone to receive the Android 9 Pie update. Google released the update earlier this month and the Pixel handsets were the first to get it in addition to the Essential Phone, the device made by the company founded by the co-founder of Android. It was the unlocked variant that got it first and it’s now being rolled out for the Sprint variant.
The Essential Phone is the first smartphone made by Andy Rubin’s company called Essential. It didn’t really turn out to be a hit even though it’s a flagship-level device. It’s also unclear if the company will be making any additional smartphones. Its future has been the subject of much speculation recently.
Essential quickly released the Android 9 Pie for the unlocked Essential Phone earlier this month. It was expected that the company might take some time in getting the update ready for the Sprint variant as it requires more software optimizations since it ships with additional apps.
It hasn’t been a substantial delay, though. Merely a week after the company released Android 9 Pie for the unlocked variant, it has confirmed that the Sprint variant of the Essential Phone is now receiving the much-awaited Android 9 Pie update.
Essential Phone Android 9 Pie Update Rolling Out On Sprint , original content from Ubergizmo. Read our Copyrights and terms of use.
If the BlackBerry Key2 hasn’t been acceptable to customers at $650 a pop, perhaps a slightly cheaper variant might be better received instead. TCL Communications, the company that makes BlackBerry-branded smartphones now, has sent out invites to the press for an event on August 30th ahead of the IFA 2018 convention in Berlin. It’s expected to unveil the BlackBerry Key2 LE at this event.
The BlackBerry Key2 LE is going to be a cheaper variant of the Key2 which itself a successor of the BlackBerry KeyOne. The Key2 has a full QWERTY keyboard, the first dual camera ever on a BB device, and additional software features from the company.
To trim dollars off of the device’s $650 price tag, the company is said to have swapped the processor, RAM, battery, and rear dual camera from the Key2 in favor of more affordable options. This according to the recent specs and image leak of the Key2 LE.
TCL’s invite confirms that its upcoming event is going to take place on August 30th in Berlin, ahead of the IFA 2018 convention in the city. It’s likely going to announce this device at the event and also confirm the details about its pricing and release date for markets across the globe.
BlackBerry Key2 LE Launch Possible On August 30th , original content from Ubergizmo. Read our Copyrights and terms of use.
Not feeling particularly lucky in love lately? Twitter can relate.
The FBI is taking steps to ensure that banks are fully aware of a new fraud called ARM Cash-out. It involves the use of malware that attackers use to compromise a bank or payment card processor. They then disable the fraud controls and withdraw huge sums of money with cloned bank cards.
The Federal Bureau of Investigation reportedly sent out an alert to banks last week informing that it has obtained unspecified reporting indicating cyber criminals are planning to conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an ‘unlimited operation’.”
The attackers need access to a financial institution’s system before they can change the account balances and disable maximum ATM withdrawal amounts as well as transaction limits. This enables them to quickly take out cash from ATMs with cloned bank cards.
This fraudulent scheme has been put to use in recent years. Attackers stole almost $2.4 million from The National Bank of Blacksburg through two attacks in 2016 and 2017. Banks have been encouraged by the FBI to adopt more stringent security measures which include tougher password requirements and two-factor authentication. They have also been advised to improve network monitoring to ensure that an attack can be flagged in a timely manner.
FBI Warning Banks About ATM Cash-Out Scam , original content from Ubergizmo. Read our Copyrights and terms of use.
He will reportedly serve his time at his sister’s house before he is up for parole in six months.
Indiana’s Roncalli High School has placed Shelly Fitzgerald on paid leave after she reportedly refused to resign.
This is site is run by Sascha Endlicher, M.A., during ungodly late night hours. Wanna know more about him? Connect via Social Media by jumping to about.me/sascha.endlicher.
