Saturday, 18 March 2017

Tesla raises $1.2 billion, tapping market again for funding

Tesla Inc's USD 1.2 billion share and convertible debt offering on Friday demonstrates once again the unflagging ability by the luxury electric carmaker and its high-profile head, Elon Musk, to tap Wall Street for sorely needed cash. In its second such capital raise in the past 12 months, the Silicon Valley company offered stock and convertible notes, roughly 20 percent more than it planned but less than what investors had generally been expecting, ahead of the launch of its crucial Model 3 sedan.

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