Elon Musk has delivered a letter to Twitter proposing he complete his buyout of the company at the agreed upon $44 billion price, assuming he can secure the financing he had previously arranged. The agreement was first revealed in an amended regulatory filing made by the social media company on Tuesday

Twitter shares rose rapidly on the news, jumping 12.7% before trading was halted for volatility. When trading resumed at 3:30 PM EST, the stock continued to rise, closing up 22%.

Earlier Tuesday, Musk confidentially filed a letter in Delaware Chancery court seeking to follow through on the original deal on its original terms. Musk’s reversal comes just days before he was scheduled to be deposed by lawyers for Twitter in the lawsuit.

In its amended filing, twitter included Musk’s letter, noting that the social network and Musk’s holding companies created to facilitate the merger, “intend to proceed to closing of the transaction.”

In Musk’s letter, the billionaire agreed to follow through on the original agreement, assuming he can still secure the financing he had arranged, and so long as the court case Twitter filed against him is adjourned. Musk did not admit any liability in the case.

A Twitter spokesperson said in a statement, “We received the letter from the Musk parties which they have filed with the SEC. The intention of the company is to close the transaction at $54.20 per share.”

Some experts think Musk reversed course because his lawyers were advising him he would lose his lawsuit.

Anat Alon-Beck, assistant professor of law at Case Western Reserve University’s School of Law said in an interview, “Musk is finally listening to his lawyers. He will be a fool to not at least try to buy the company now and avoid being deposed during trial.”

University of Iowa law professor Robert Miller said Musk should still be able to access the financing he had arranged, noting, “There was really no way for Morgan Stanley to get out.”