By Jon LeSage Tesla has been able to raise more funds than originally expected to back the launch of the Model 3 later this year.
The electric automaker raised about $1.2 billion on Friday, about 20 percent more than had been planned by the company. That capital came through about $350 million in common shares and another $850 million through the sale of convertible debt.
The company sold 1.3 million common shares at $262 per share to raise the $350 million. About $850 million came through the sale of convertible senior notes that are due in 2022.
CEO Elon Musk had been floating the idea of
Read Full Article Here
For more great articles: HybridCars.com