Tesla Sold Shares at Steepest Discount It’s Ever Given Investors


Tesla said in the filing it will sell 2.65 million shares at that discounted price to raise more than $2 billion.

Elon Musk has US$548 million in personal loans from Morgan Stanley, Goldman Sachs Group Inc. and Bank of America Corp., according to a regulatory filing Thursday, an increase of about 8 per cent since Tesla's previous disclosure in May.

Tesla CEO Elon Musk may finally get his huge paycheck by mid-spring if shares of the electric carmaker stay stable and the company manages to keep its average market cap above $100 billion.

The SEC issued a subpoena in December "seeking information concerning certain financial data and contracts including Tesla's regular financing arrangements", the company said.

Astros' apology rings hollow to Nationals, others around Major League Baseball
"I am really sorry about the choices that were made by my team, by the organization and by me", Bregman said Thursday . Instead, the Houston Astros of this era will be known exclusively for cameras, trash cans, buzzers, and cheating.

Tesla's $2 billion secondary offering priced at $767 per share, 4.60% below Thursday's closing price.

The electric-car maker said it plans to use the proceeds from the offering to strengthen its balance sheet and for general corporate purposes.

Tesla's shares fell as much as 7% in premarket trading after having tripled since October when the company posted a rare quarterly profit. The share price opened down on Friday, rose to $ 812.97 and is around $ 802. The agency declined ABC News' request for comment Friday, and Tesla did not immediately respond to request for comment. "So in light of that, it doesn't make sense to raise money because we expect to generate cash despite this growth level".

The stock offering "will be a bit of a shock to some given the company talked about no need to raise capital on its recent conference call", analyst Daniel Ives, managing director of equity research at Wedbush Securities, said in a commentary.