18 Mar '17, 2pm

Tesla Raises $1.2 Billion To Prep For Model 3 Launch

Tesla Raises $1.2 Billion To Prep For Model 3 Launch

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 raising more capital since late 2016 to have needed funds to launch the $35,000-plus, 215-mile-plus Model 3 by the end of this year. He’d expected the carmaker was going to be “close to the edge” on the need for cash flow. Musk has been putting a lot of his own money into the company. He purchased 95...

Full article: http://www.hybridcars.com/tesla-raises-1-2-billion-to-pre...

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Tesla raises $1.2 billion to build its Model 3;...

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Tesla Inc. raised about $1.2 billion on Friday, roughly 20 percent more than it had planned, by selling common shares and ...

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nike.com 23 Mar '17, 9pm

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