Tesla Inc on Thursday announced plans to raise $2 billion (£1.54 billion) in a s...
- Tesla Inc on Thursday announced plans to raise $2 billion in a stock offering, tapping into an astronomical jump in its share price over the past few months and reversing the electric-car maker’s often-stated policy of avoiding sales of new stock.
Tesla’s shares were down roughly 1% in morning trading, retracing losses after sliding as much as 7% in premarket trading. The stock has tripled since October when the company posted a rare quarterly profit. Its market capitalization now exceeds the combined value of General Motors Co and Ford Motor Co.
Tesla is also working on an electric pickup truck, a new generation of the Tesla Roadster, an electric sports car, and automated driving features. The company did not immediately respond to a request for further comment on how to reconcile Thursday’s announcement with Musk’s previous statements. Tesla, whose outstanding debt was $13.42 billion at the end of 2019, posted its second quarterly profit in a row in January and said it would comfortably make more than half a million cars this year.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla seeks to raise $2 billion through stock offeringTesla Inc said on Thursday it plans to raise $2 billion by selling shares throug...
Read more »
Tesla shares fall after company announces $2 billion common stock offeringTesla will offer $2 billion of common stock, with Elon Musk buying as much as $10 million. Shares of $TSLA slid in premarket trading following the announcement.
Read more »
Tesla Capitalizes On Stock’s Hot Streak With Offering To Raise More Than $2 BillionThe new offering is a surprise as Musk recently said the company didn't need to raise funds.
Read more »
Battery Ventures just raised $2 billion for its biggest fund yet - Business InsiderBattery Ventures partner Chelsea Stoner explains why she looks for startups that can't be reached by a direct flight as her firm announces a new $2B fund
Read more »
Skydance Gets $275M Infusion From RedBird Capital & ‘Parasite’ Studio CJ, Raising Valuation To $2.3BDavid Ellison’s Skydance Media has received a $275 million strategic investment from RedBird Capital Partners and CJ Entertainment and Merchandising (CJ ENM), the studio behind the 4x Oscar-w…
Read more »
Taiwan plans $2 billion package to soften coronavirus hit to economyTaiwan plans to spend T$60 billion ($2 billion) to help cushion the impact of th...
Read more »