Tesla shares pop on plan to raise $2 billion from investors, including CEO Elon Musk.
GP: Elon Musk, chief executive officer of Tesla Inc., speaks during an event at the site of the company's manufacturing facility in Shanghai, China, on Monday, Jan. 7, 2019.said in a filing on Thursday that it would raise up to $2 billion, with $650 million coming in the form of new equity and $1.35 billion in convertible notes.signaled the intent to buy about $10 million of the company's stock in the new offering. The total equity offering is for 2.7 million shares of Tesla.
Tesla shares fell earlier in premarket trading when the company put out an initial filing indicating it would be offering a mix of debt and equity securities. The stock then reversed course and was last trading 5.7% higher when a second filing revealed details of the offering, including Musk's interest in buying a block of the new shares.
Shares of the controversial electric automaker have been under pressure lately, down nearly 30% from the beginning of the year. The stock's surge following the filing came from "the fact that they ripped off the band aid and decided to raise the capital," Dan Ives, managing director of equity research at Wedbush Securities, told CNBC.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla CEO Elon Musk, SEC settle latest Twitter beefTesla Inc. Chief Executive Elon Musk and the Securities and Exchange Commission announced a settlement stemming from their latest Twitter beef Friday afternoon.
Read more »
Elon Musk reopens the possibility Tesla will need to raise more cashTesla's record drop in deliveries, combined with its largest-ever debt payment, depleted cash to the lowest level in three years.
Read more »
Yale's Sonnenfeld: Elon Musk 'dramatically failed expectations' and Tesla board needs to 'wake up'Tesla's first-quarter loss was 'catastrophic' and the board should hold CEO Elon Musk responsible, says management expert Jeffrey Sonnenfeld.
Read more »
Elon Musk Says He’s Selling Insurance — and Wishes Tesla Was PrivateTesla CEO Elon Musk said the company is creating an insurance product and that he wishes the company was private. The statements came after the company reported a wider-than-expected quarterly loss.
Read more »
Tesla's Elon Musk, SEC again ask for more time to reach deal over CEO's Twitter useTesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commiss...
Read more »
Tesla's Elon Musk reaches deal with SEC over Twitter useTesla Inc Chief Executive Elon Musk has reached a deal with the U.S. Securities ...
Read more »
Elon Musk and the SEC resolve dispute over the Tesla CEO’s tweetsThe SEC had asked a federal judge to hold Musk in contempt over a tweet concerning Tesla's production numbers.
Read more »
Elon Musk, SEC Propose Deal to End Latest Court Fight Over Tesla CEO’s TweetsElon Musk and the Securities and Exchange Commission have proposed a deal to end the latest court battle over Mr. Musk’s tweets. The agreement would avert the risk of the Tesla CEO being held in contempt of court.
Read more »
Tesla's Musk agrees to new vetting rules for tweets in SEC dealTesla Inc Chief Executive Elon Musk has reached a deal with the U.S. Securities ...
Read more »
Elon Musk, SEC settle legal fight over his tweets about TeslaTesla Inc.’s chief executive and the U.S. Securities and Exchange Commission said in a court filing Friday that they are settling a legal dispute over how Musk posts news about his electric-car company.
Read more »