logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.
Follow RTT