Tesla $2B stock offering prices at $767 per share - InvestingChannel

Tesla $2B stock offering prices at $767 per share

Tesla priced a 2.65M share offering at $767 per share, the company confirmed in regulatory filing. The stock closed Thursday up 5%, or $36.71, to $804.00. Elon Musk, Tesla CEO, has indicated his preliminary interest in purchasing up to 13,037 shares of common stock for a purchase price of approximately $10M in the offering at the public offering price. In addition, Lawrence Ellison, a member of the company’s board, has indicated his preliminary interest in purchasing up to 1,303 shares of common stock for a purchase price of approximately $1M. Tesla expects to receive net proceeds from the offering of approximately $2.01B after deducting the underwriting discounts and offering expenses. It intends to use the net proceeds to “further strengthen” its balance sheet, as well as for general corporate purposes.