According to an SEC filing made Wednesday, Elon Musk offered to buy all outstanding Twitter common stock at $54.20. The buyout price would represent a 54% premium over the closing price of Twitter stock on January 28, 2022, which was the day before Musk started investing in the stock, the 13D filing states.

At $54.20, the final purchase price for Musk would be $41 billion to complete the takeover, Reuters reports.

“As I indicated this weekend, I believe that the company should be private to go through the changes that need to be made,” Musk says in the document. “After the past several days of thinking this over, I have decided I want to acquire the company and take it private. I am going to send you an offer letter tonight, it will be public in the morning. Are you available to chat?”