Tesla Prices $2B Stock Offering Amid Regulator Scrutiny
Law360 (February 14, 2020, 9:41 PM EST) -- Tesla Inc. on Friday priced a roughly $2 billion common stock offering that may be spent on bolstering the electric carmaker’s balance sheet, the day after disclosing that regulators are seeking information about the company's financing arrangements.
Palo Alto, California-based Tesla said it is offering 2.65 million shares at $767 each, amounting to slightly more than $2 billion. Tesla is reserving broad discretion for how it will spend the funds.
“We intend to use the net proceeds from this common stock offering to further strengthen our balance sheet, as well as for general corporate purposes,” Tesla told U.S. Securities and Exchange Commission...
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