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Tesla Announces Underwritten Registered Public Offerings - Quick Facts

Tesla, Inc. (TSLA) announced offerings of $650 million of common stock and $1.35 billion aggregate principal amount of convertible senior notes due in 2024 in concurrent underwritten registered public offerings with aggregate gross proceeds at approximately $2.3 billion. The notes are allowed to be converted into cash and/or shares of the company's common stock at Tesla's election.

Tesla noted that its CEO, Elon Musk, will buy $10 million of common stock, under the announced offerings.

The company plans to use the proceeds to strengthen balance sheet, and for general corporate purposes.

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