Twitter stated Monday in a filing that false or spam accounts represent less then 5% of their monetizable daily active users during the first quarter. they also mentioned in the filing that they face several risks until the deal with Musk is closed, such as whether advertisers would continue to spend on Twitter and just overall uncertainty regarding our future plans and strategy.
Musk says he put the deal on hold while he waits for the company to provide the full data on the proportion of its fake/spam accounts. after the hold announcement twitter shares initially fell more than 20% in premarket trading, but after Musk sent out a follow up tweet stating that he was indeed still committed to the deal stocks went back up nearly 11%.
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," @elonmusk - Twitter