Tesla raises $1.2 billion for Model 3 launch

Tesla returns to Wall Street as Elon Musk readies Model 3 for market

Musk has been borrowing hundreds of millions from Morgan Stanley and Goldman Sachs in order to participate in nearly all of Tesla's new capital raises and maintain his large stake in the company, which is now worth about $9 billion out of a total valuation of $42.5 billion.

The proceeds from Tesla's offering of $250 million in shares and $750 million in convertible debt will be used to strengthen its balance sheet and reduce risks associated with introducing the Model 3 sedan, Tesla said in a statement.

After the announcement was made earlier in the week, the Palo Alto-based automaker saw its stock rise 2.5 percent to close Thursday at $262.05, a 0.3 percent increase.

Russian Federation runs up cyber score against USA with Yahoo, election hacks
Haley has been tougher on Russia than Trump, who has expressed hope for better relations with Russian President Vladimir Putin. Indictment links Russia's FSB to massive hacking operation that compromised 500 million accounts. .

Tesla sold more than 1.3 million common shares for $262 each.

Elon Musk recently attended the 2017 World Government Summit in Dubai, to launch Tesla in the UAE.

The capital raise removed "an overhang on the stock", in the eyes of investors, wrote analyst Jamie Albertine of Consumer Edge Research, given uncertainty over how Tesla would meet its robust spending needs, from the Model 3 to its massive battery factory in Nevada. According to TechTimes, Musk will be purchasing $25 million of the common stock offered.

Business gives energy plan pass mark but governance concerns remain
While environmental and renewable energy groups have welcomed the increased funding for renewable energy. Labor energy spokesman Mark Butler said it was a "genuine crisis" requiring national leadership.

So, this cash raise is more with an eye towards making preparations for contingencies and offset risk for shareholders, as compared to any real, urgent need on Tesla's part.

The future of Tesla's profitability will be dictated by the commercial success of the Model 3, which makes the most affordable vehicle ever offered by this brand its most important product in years.

Electric vehicle manufacturer Tesla announced on Wednesday that it will raise US$1.15 billion in a series of offerings.

Flynn Was Paid Nearly $60000 By Russian Firms
Defense Intelligence Agency, sat next to Russian President Vladimir Putin during the climax of the televised RT gala. The findings were contained in the community's report about Russia's attempt to influence the USA election.

It's important to note that Jason Wheeler, Tesla's departing CFO, later clarified that this capital expenditure is an estimate for the first half of the year, not a full-year estimate.

Share

Related News

  • African football body admits Zanzibar as 55th member

    African football body admits Zanzibar as 55th member

    Pinnick won the West African Zone B seat into the Caf executive committee by defeating Benin Republic's Anjorin Moucharafou. Ahmad was accused of alleged corruption in the award of the 2022 World Cup ticket to Qatar.
    Officials call for Shortey to resign

    Officials call for Shortey to resign

    Ralph Shortey has clearly failed to achieve this minimum standard and had rightfully lost his senate privileges. In a statement following its passage, Schulz said it was not meant to be "a presumption of guilt or innocence".
    Trump to reopen review of USA  fuel efficiency standards

    Trump to reopen review of USA fuel efficiency standards

    Trump said that he would engage in deregulation while also renegotiating free trade agreements in order to meet these objectives. Auto companies agreed to the tighter standards in 2011 that would almost double the fleet's efficiency to 54.5 miles per gallon.
  • Former Vols coach Cuonzo Martin offered Mizzou job according to reports

    Cuonzo Martin is on the move again, and the former Missouri State men's basketball coach may be headed back to the Show-Me State. His Golden Bears were bounced from the first round of the NIT Tuesday night after being upset at home by Cal State Bakersfield.

    You can now use Alexa in the Amazon app on your iPhone

    Alexa will begin rolling out to iOS devices today, and should be available to everyone in the USA be next week. However, we doubt that you'll have access to Echo-exclusive promotions that Amazon runs from time to time.
    White House requests $1.5 billion from Congress to begin border wall construction

    White House requests $1.5 billion from Congress to begin border wall construction

    After the report came out, Trump vowed to bring the price "way down", though he did not offer specifics. There are also already indicators that funding a total wall could be a tough sell in Congress.
  • Google's Guetzli Open Source JPEG Encoder Compresses Images by 35 Percent

    Google's Guetzli Open Source JPEG Encoder Compresses Images by 35 Percent

    To accomplish this, Guetzli trades visual quality for a smaller file size at the quantization stage of image compression. Guetzli is the product of Google Research Europe, and has been released under the Apache open source license .
    Alabama agriculture officials confirm bird flu case in Jackson County

    Alabama agriculture officials confirm bird flu case in Jackson County

    Another case of avian influenza, also known has bird flu, has been reported in Lincoln County, state officials said on Thursday. South Korea banned imports of all USA poultry following the Tennessee bird-flu findings, according to its agriculture ministry.
    Emily Blunt to star with husband for first time

    Emily Blunt to star with husband for first time

    Blunt most recently starred in Girl on the Train , and can next be seen in Disney's Mary Poppins Returns. He previously directed last year's " The Hollars " and " Brief Interviews With Hideous Men " in 2009.
  • Harry Kane's Success Has Made It Tough For Vincent Janssen - Mauricio Pochettino

    Harry Kane's Success Has Made It Tough For Vincent Janssen - Mauricio Pochettino

    He is very positive and if you are positive in your mind you can affect in a positive way your injury". Now is a great chance for Sonny and Vincent to be more regular in the starting 11".
    Mourinho: I know which players got Karanka sacked

    Mourinho: I know which players got Karanka sacked

    And Ravanelli has revealed how he wants to return to his former side to save them from Premier League relegation. In the second year, he took the team to Wembley to play the play-off final.
    NC Unemployment up in January

    NC Unemployment up in January

    January unemployment rates fell in 205 of the nation's 388 metropolitan areas, rose in 147 areas and were unchanged in 36. Despite the uptick, the rate of unemployment was still lower than the region's 4.2 percent unemployment rate a year ago.