Tesla raises $1.2 billion to build its Model 3; ending Model S 60 production

By Editorial Staff Tesla Inc. raised about $1.2 billion on Friday, roughly 20 percent more than it had planned, by selling common shares and convertible debt, ahead of the launch of the crucial Model 3 electric sedan.
The bulk of Friday’s offering, or $850 million, came from convertible senior notes due 2022, with $350 million raised from the sale of 1.3 million common shares at $262 apiece.
That was higher than the $250 million in stock and $750 million in notes the company said it expected to sell.
Tesla had been expected to raise capital since late last year, with the expectations gaining steam last month

Read Full Article Here

For more great articles: Electric Cars Report

(Visited 10 times, 1 visits today)



© 2014 RenewaNews