Tesla to raise 5 billion USD through share offering
Petre Barac
Posted On September 1, 2020
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Tesla said on Tuesday it plans to raise up to 5 billion USD through a share sale program to be conducted by Wall Street’s main brokerages.
The sales agents include major banks such as Goldman Sachs & Co, Bank of America Securities Inc, Citigroup Global Markets Inc and Morgan Stanley & Co, the electric carmaker said in a filing.
Tesla shares, which rose about 8% in early premarket trading, were up about 3% after the news.
The move comes a day after a 5-for-1 stock split took effect, Tesla’s first since its initial public offering about a decade ago.
Via Reuters
