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Tesla Motors Will Raise $500M In A Public Offering

Tesla announced its intention of selling up to 2,100,000 shares of common stock. Book running managers and Underwriters such as BofA Merrill Lynch, J.P Morgan, Goldman Sachs & Co, Morgan Stanley, Wells Fargo Securities and Deutsche Bank Securities will also get a chance to buy up to 315,000 additional shares.

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Incase if the underwriters decide to take part in purchasing the additional shares using the closing price of $283.17 per share, Tesla will expect the offer to be approximately ranging from $492.6 million to $566.5 million.

The company’s CEO Musk Elon has shown interested to buy 83,974 shares for a total price of $20 million.

Tesla’s CFO Ahuja and CEO, Musk were being questioned by several analysts concerning the company’s earnings and future plans to raise capital, so this forced them to announce the selling of up to 2,100,000 shares which incase if the capital is collected, it will help to boost the growth of the business in US and other parts of the world especially the production of model 3, Tesla service centres, the growth of its stores etc.

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