Tesla Stock Surges With Billion Dollar Announcement

By OilPrice.com In what will hardly come as a surprise, Tesla – which burned half a billion dollars in the fourth quarter – just announced it is raising capital in the form of a $250 million common stock and $750 million convertible offering. In addition, Tesla has granted the underwriters a 30-day option to purchase up to an additional 15 percent of each offering. Elon Musk will participate by purchasing $25 million of common stock. According to the press release, the aggregate gross proceeds of the offerings, including the options granted to the underwriters,…

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