Tesla Plans to Raise $1.15 Billion in Stock and Debt

Posted by at 9:18 am on March 16, 2017

Tesla plans to raise as much as $1.15 billion in stock and debt to aid in the launch of the Model 3, its first mass market car.

The EV company announced Wednesday it will offer $250 million in common stock and $750 million in convertible debt, with an option for its underwriters to buy up another 15% of the two offerings.

Elon Musk, Tesla’s CEO, will purchase $25 million of the stock.

Tesla’s stock rose 2% in after hours trading Wednesday following the announcement.

Leave a Reply

Sign Up For Our Newsletter

Sign up to receive breaking news
as well as receive other site updates

Enter your Email

Preview | Powered by FeedBlitz

Log in

Copyright © 2008 - 2020 · StreetCorner Media , LLC· All Rights Reserved ·