Tesla closes $2.7 billion mixed offering of shares, debt
Reuters
Published May 08, 2019 07:25AM ET
Tesla closes $2.7 billion mixed offering of shares, debt
(Reuters) - Tesla (NASDAQ:TSLA) Inc said on Wednesday it closed its $2.7 billion offering of stock and convertible notes and that it was over-subscribed, giving the electric carmaker much needed cash as it ramps up production.
Tesla sold about $860 million in shares and $1.84 billion in debt, after the underwriters exercised their option to buy 15 percent in each offering.
Shares of the company were down 0.8 percent at $245.20 in trading before the bell.
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Written By: Reuters
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