WASHINGTON (dpa-AFX) - Tesla, Inc. (TSLA) announced offerings of $650 million of common stock and $1.35 billion aggregate principal amount of convertible senior notes due in 2024 in concurrent underwritten registered public offerings with aggregate gross proceeds at approximately $2.3 billion. The notes are allowed to be converted into cash and/or shares of the company's common stock at Tesla's election.
Tesla noted that its CEO, Elon Musk, will buy $10 million of common stock, under the announced offerings.
The company plans to use the proceeds to strengthen balance sheet, and for general corporate purposes.
Copyright RTT News/dpa-AFX
© 2019 AFX News
