SHARE THIS ARTICLE

Tesla Motors Inc will offer up to $1.7 billion of new common stock to finance the accelerated launch of its new Model 3 electric sedan, the electric luxury car maker said on Wednesday.

Tesla shares fell 2.2 percent following the announcement, which came after the market closed. They were $206.59 in after market trading, well below the $242 a share price at which the company last issued new shares, in August 2015.

Tesla, which has posted operating losses since its initial public offering in June, 2010, said in a prospectus it expected to sell as many as 8.2 million shares at a price of $204.66 a share.



Read Article


Tesla To Offer $1.7 Billion In Stock To Fund Model 3 Production - Do You Plan To Get In On That Action?

About the Author

Agent009