Tesla Inc. shares TSLA, -0.92% slid 5.8% in premarket trade Thursday, after the electric car maker said it is planning to offer about $2 billion of common stock in an underwritten deal. The company said Chief Executive Elon Musk will participate in the offering by purchasing up to $10 million of the new shares. Board member Larry Ellison will also participate by buying up to $1 million worth of stock. Proceeds of the deal will be used to bolster the company's balance sheet and for general corporate purposes. Goldman Sachs and Morgan Stanley are underwriting the deal and have a 30-day option to acquire another $300 million of stock. Shares have gained 149% in the last 12 months, while the S&P 500 SPX, +0.65% has gained 23%.
Business - Latest - Google News
February 13, 2020 at 07:52PM
https://ift.tt/2Sng413
Tesla stock slammed as company announces plan to issue up to $2 billion in new shares - MarketWatch
Business - Latest - Google News
https://ift.tt/2Rx7A4Y
Bagikan Berita Ini
0 Response to "Tesla stock slammed as company announces plan to issue up to $2 billion in new shares - MarketWatch"
Post a Comment