Twitter (NYSE:TWTR) shares rose 3% on Thursday after the company informed employees that its deal with Elon Musk is not on hold and the deal price of $54.20 per share will not be renegotiated, Business Insider writes.

Musk recently wrote on the social network that his deal with Twitter is “on hold” as he must investigate the number of fake accounts.

Twitter itself has said that only about 5% of its accounts are fake, while Musk believes that number is closer to 20%.

Twitter said it would not renegotiate the price of the deal, $54.20 per share, or about $44 billion.

Ilon Musk had planned to pledge more than $10 billion of his Tesla (NASDAQ:TSLA) stake as collateral to get financing to buy Twitter. But if he backed out of the deal, he would owe Twitter $1 billion as a penalty for breaking the deal. There has been speculation that Musk could have tried to avoid paying this amount by claiming that there are more bots and fake accounts on Twitter’s platform than the company originally claimed.

But Twitter seems to be adamant that Musk is going to buy it at the agreed price.

Twitter CFO Ned Segal told employees during a meeting that Twitter executives are still engaged with Musk and his team, working to finalize the deal.

While Twitter isn’t wavering in its goal to close the deal, not everyone is convinced it will happen based on the wide spread between the agreed-upon purchase price and the price at which Twitter’s shares are currently trading. On Thursday, they were trading 30% below the deal price of $54.20.