Tesla goes big with plans to raise $2 billion

Tesla goes big with plans to raise $2 billion

5 years ago
Anonymous $9jpehmcKty

https://www.mercurynews.com/2019/05/02/tesla-goes-big-with-plans-to-raise-2-billion/

With it needing to almost constantly expand its automaking efforts, Tesla said Thursday that it will seek to raise more than $2 billion through a combination of issuing new shares of stock and selling the electric carmaker’s debt.

In a filing with the Securities and Exchange Commission, Tesla said it will sell $1.35 billion of debt and $650 million worth of stock, and give underwriters the chance to buy up to $202.5 million more of the company’s shares. The move comes a week after Tesla reported a quarterly loss of $700 million, and CEO Elon Musk suggested that the company would seek to raise more funds on the capital markets.