Read more about Tesla launches $5 billion capital raise, tapping in on share surge on Business Standard. The move comes a day after a 5-for-1 stock split took effect, Tesla’s first since its initial public offering in June 2010, and follows a nearly six-fold increase in the value of its shares this year
Inc on Tuesday unveiled its biggest program of new share sales as a public company, seeking to cash in on soaring Wall Street interest in the electric carmaker to raise up to $5 billion that will ease future debt pressures. The move comes a day after a 5-for-1 stock split took effect, Tesla’s first since its initial public offering in June 2010, and follows a nearly six-fold increase in the value of its shares this year. Tuesday’s share sale comes as seeks to massively expand production of its existing vehicles and build new factories near Berlin, Germany and Austin, Texas.
