logo
Plus   Neg
Share
Email

Tesla To Offer $2 Bln Stock In Public Offering; Discloses Subpoena From SEC

Tesla, Inc. (TSLA) said it intends to offer approximately $2 billion of common stock in an underwritten registered public offering. The company plans to use the net proceeds to further strengthen its balance sheet, as well as for general corporate purposes.

Elon Musk, Tesla's CEO, will purchase up to $10 million of common stock under the offering. Larry Ellison, a member of Tesla's Board, will purchase up to $1 million of common stock.

Tesla, in a filing, stated that the SEC issued a subpoena in December seeking information from company concerning certain financial data and contracts including Tesla's regular financing arrangements. Separately, the DOJ also asked the company to provide the information.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pizza Hut's large Original Pan Pizza is now available at locations across the U.S. for $10.99. The fast food chain, a subsidiary of Yum! Brands Inc., said that fans can now get a large Original Pan Pizza with up to three of their favorite toppings, without needing to stretch their wallets. The Original Pan Pizza is a buttery golden-brown color. The U.S. Food and Drug Administration approved the first drug to treat adults and children aged 12 years and older with hypereosinophilic syndrome for six months or longer without another identifiable non-blood related cause of the disease. GlaxoSmithKline's Nucala (mepolizumab) is the first FDA-approved drug in nearly 14 years to treat this group of rare and debilitating blood diseases. Uber has won a legal battle to continue to operate in London, one of its largest markets. The ride-hailing company has been granted an 18-month license to operate in London after overturning the ban on an appeal for the second time. The Westminister Magistrates Court found Uber London Ltd. a "fit and proper" company to run the services in London.
Follow RTT