{"id":658257,"date":"2013-05-15T17:10:23","date_gmt":"2013-05-15T21:10:23","guid":{"rendered":"http:\/\/gigaom.com\/?p=645882"},"modified":"2013-05-15T17:10:23","modified_gmt":"2013-05-15T21:10:23","slug":"tesla-could-raise-830m-through-new-offering-including-100m-from-ceo","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/658257","title":{"rendered":"Tesla could raise $830M through new offering, including $100M from CEO"},"content":{"rendered":"<p>Electric car maker Tesla announced on Wednesday that it could raise another $830 million in a combination of a new stock offering, and newly issued convertible senior notes. Tesla says it plans to sell another 2.70 million shares of common stock and $450 million worth of notes, in addition to an option for investors to purchase another 405,454 shares of stock and $67.5 million in notes.<\/p>\n<p>On top of that Tesla says CEO Elon Musk plans to buy $100 million worth of common stock, of which $45 million will be bought in the offering, and $55 million will be bought directly from Tesla.<\/p>\n<p><a href=\"http:\/\/gigaom.com\/2012\/06\/22\/photos-tesla-model-s-customers-drive-off\/sony-dsc-326\/\" rel=\"attachment wp-att-535811\"><img loading=\"lazy\" decoding=\"async\" alt=\"Tesla CEO Elon Musk\" src=\"http:\/\/gigaom2.files.wordpress.com\/2012\/06\/dsc01901.jpg?w=708&#038;h=471\" width=\"708\" height=\"471\" class=\"aligncenter size-large wp-image-535811\"><\/a><\/p>\n<p>Tesla says it will use part of these funds \u2014 <a href=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/1318605\/000119312513222376\/d539676dex101.htm\">the notes specifically <\/a> \u2014 to pay back the entirety of the loan to the Department of Energy early, and will also use some of the funds for other general corporate purposes. Tesla raised a $465 million loan from the DOE and has previously said it will pay that back in half the time it\u2019s been allotted. So, that goal of half the time, has now been condensed even further.<\/p>\n<p>Tesla has talked about raising more money for awhile, and many have speculated that company <a href=\"http:\/\/pro.gigaom.com\/blog\/will-tesla-need-more-cash-next-year\/?utm_source=cleantech&#38;utm_medium=editorial&#038;%2338;utm_campaign=intext&#038;%2338;utm_term=645882+tesla-could-raise-830m-through-new-offering-including-100m-from-ceo&#038;%2338;utm_content=katiefehren\">would want more funds to grow<\/a>. This will be Tesla\u2019s fourth offering (an <a href=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/1318605\/000119312513222292\/d538756ds3asr.htm\">S-3<\/a>!). Back in 2011, Tesla also used a <a href=\"http:\/\/gigaom.com\/2011\/05\/25\/tesla-could-raise-over-200m-in-follow-on-offering\/\">follow-on offering combined with a private placement<\/a> to raise funds, and <a href=\"http:\/\/gigaom.com\/2012\/09\/28\/tesla-plans-to-raise-up-to-221m-in-another-public-offering\/\">did so again<\/a>, raising $221 million, in late 2012. The company went public in the Summer of 2010.<\/p>\n<p>Tesla\u2019s shares have been on a tear recently, and traded over $90 per share this week. On this news, Tesla stock was up 5.49 percent in after hours trading.<\/p>\n<p> <img loading=\"lazy\" decoding=\"async\" alt=\"\" border=\"0\" src=\"http:\/\/stats.wordpress.com\/b.gif?host=gigaom.com&#038;blog=14960843&#038;%23038;post=645882&#038;%23038;subd=gigaom2&#038;%23038;ref=&#038;%23038;feed=1\" width=\"1\" height=\"1\" \/><\/p>\n<p><a href=\"http:\/\/pubads.g.doubleclick.net\/gampad\/jump?iu=\/1008864\/GigaOM_RSS_300x250&#038;sz=300x250&#038;%23038;c=466444\"><img decoding=\"async\" src=\"http:\/\/pubads.g.doubleclick.net\/gampad\/ad?iu=\/1008864\/GigaOM_RSS_300x250&#038;sz=300x250&#038;%23038;c=466444\" \/><\/a><\/p>\n<p><strong>Related research and analysis from GigaOM Pro:<\/strong><br \/>Subscriber content. <a href=\"http:\/\/pro.gigaom.com\/?utm_source=cleantech&#038;utm_medium=editorial&#038;utm_campaign=auto3&#038;utm_term=645882+tesla-could-raise-830m-through-new-offering-including-100m-from-ceo&#038;utm_content=katiefehren\">Sign up for a free 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Tesla says it plans to sell another 2.70 million shares of common stock and $450 million worth of notes, in addition to an option for investors to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-658257","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/658257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=658257"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/658257\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=658257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=658257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=658257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}