https://wccftech.com/tesla-nasdaq-tsla-is-gearing-up-to-raise-5-billion-in-additional-funding-by-offering-new-shares-to-wall-street-players-via-an-equity-distribution-agreement/

Tesla (NASDAQ:TSLA), the pre-eminent EV manufacturer, has exhibited a stunning bullish tenacity over the recent months, spurring the stock to new all-time highs in the process. Yesterday, the Elon Musk-led company reached another milestone as the stock began trading on a share split-adjusted basis for the first time ever.

As per Tesla’s filing with the U.S. Securities and Exchange Commission (SEC) today, it seems the company is gearing up for another major capital-raising exercise. Just moments ago, the EV giant filed the requisite Form 8-K as well as the Form 424B5 with the SEC. According to these filings, Tesla has entered into an equity distribution agreement with major Wall Street players in order to sell shares worth at least $5 billion. As a refresher, the agreement allows a publicly-traded company to raise additional funds by selling new shares directly to a financial entity, with the sale occurring in defined lots or tranches over a specified period of time.