Tesla Motors released prices and fully allocated its follow-on offering of 6,925,740 shares of common stock at a price to the public of $28.25 per share.
Tesla also granted the underwriter a 30-day option to purchase up to an additional 1,038,861 shares of common stock. All shares are being offered by Tesla.
Tesla’s CEO Elon Musk said he will purchase up to 35,398 shares of common stock at the public offering price for an aggregate purchase price of approximately $1 million.
Tesla said that it intends to use the net proceeds for general corporate purposes.
– By: Omar Rana