Tesla Prices its Secondary Offering at $767 per Share to Raise $2 Billion
Posted on 02/14/2020
Managed by Elon Musk, electric vehicle maker Tesla, Inc. priced its secondary common stock offering at US$ 767 a share to raise more than US$ 2 billion. Tesla will sell 2.65 million shares at that price, a 4.6% discount to its February 13, 2020 close. Goldman Sachs and Morgan Stanley are the lead underwriters and they have the option to buy an additional 397,500 shares in the offering.
According to the prospectus, “Elon Musk, our Chief Executive Officer, has indicated his preliminary interest in purchasing up to 13,037 shares of our common stock for a purchase price of approximately $10.0 million in this offering at the public offering price. In addition, Lawrence J. Ellison, a member of our Board of Directors, has indicated his preliminary interest in purchasing up to 1,303 shares of our common stock for a purchase price of approximately $1.0 million in this offering at the public offering price.”
