Tesla is finally going to raise capital — and it's about time
telegraphed the funding raise after it reported disappointing Q1 earnings — and investors might wonder why the company has held out so long.
The carmaker, after a rough first quarter when it lost $700 million, is now down to about $2 billion in cash. That's uncomfortable, and so Tesla has finally decided to sell some more equity and issue some additional debt. In a filing Thursday, it revealed plans to raise another $2 billion. Musk, of course, might now wish that he could invent a time machine to go back to a point when Tesla shares were higher than $300 and its market cap surpassed GM's. But a raise at current levels should be popular; the markets have justifiably discounted Tesla, and shares spiked 5% on Thursday morning when the funding raise was announced. Investors might sense a good deal, and for the record, $250 is around where Tesla has sold equity before.
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