Wilson Sonsini Reps Tesla In $178M IPO

Law360, New York (June 15, 2010, 1:25 PM EDT) -- Tesla Motors Inc. unveiled plans Tuesday to sell 11.1 million shares as part of an initial public offering that values the electric sports car manufacturer at up to $177.6 million.

Palo Alto, Calif.-based Tesla intends to sell 10 million shares, while selling shareholders will contribute an additional 1.1 million shares, priced at $14 to $16 each, according to a regulatory filing with the U.S. Securities and Exchange Commission.

Tesla said it would partly use the proceeds from the offering to fund upcoming capital expenditures, including costs...
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