Tesla has announced that it is initiating a $5 billion capital raise on Tuesday. The move, which will result in a dilution of about 0.8%, is poised to provide an additional $5 billion to the company’s already formidable balance sheet.
Tesla’s new capital raise announcement comes on the heels of TSLA shares hitting new all-time highs on Monday, pushing the electric car maker’s market cap to over $600 billion. This further cemented Tesla’s position as the world’s most valuable automaker, while emphasizing the company’s opportunities in other industries such as energy storage, solar, and autonomous driving solutions.
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