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Tesla will raise an additional $ 400 million during its last sale of shares. The co-founder and CEO, Elon Musk, is committed to buying an additional $ 15 million in shares, according to a document filed by the Securities and Exchange Commission.
The maker of electric vehicles, energy storage and solar panels announced that it would sell 3.1 million shares at $ 243 per share. Underwriters jointly underwritten by Goldman Sachs and Citigroup . At the same time, the company announced that it would strengthen its convertible note offering by an additional $ 100 million.
Initially Tesla was going to sell $ 2.3 billion of stocks and warrants, but the new totals increase that number to $ 2.7 billion, with Elon Musk under the revised agreement.
The company said Musk would increase its purchase from $ 10 million to $ 25 million as part of the sale of shares.
The announcement of the increase in the sale of shares, revised just one day after Tesla announced it would turn to the capital markets to raise more cash, was announced despite the release of a first quarter difficult, a week ago.
Zachary Kirkhorn has even described it as "one of the most complicated neighborhoods" in Tesla's history.
Tesla lost $ 702 million in the first quarter of the year, but its challenges and cash constraints did not dampen investors' appetite for equities.
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