F-22Raptor
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Tesla Inc. is going back to the capital markets for the third time in ten months by selling as much as $5 billion of common stock, taking advantage of its surging shares and inclusion in the S&P 500 Index.
The sale will be through an “at-the-market” offering program, Tesla said Tuesday in a regulatory filing. Its shares fell as much as 3.2% before the start of regular trading.
The offering comes after Chief Executive Officer Elon Musk urged employees on Dec. 1 to be mindful about spending and play a “Game of Pennies” even after Tesla reported a fifth consecutive quarter of profit in October. The automaker had $14.5 billion in cash and cash equivalents at the end of September, but insatiable demand for its shares has allowed it to boost spending while still buttressing its balance sheet.
https://www.bloomberg.com/news/arti...to-5-billion-in-third-capital-raise-this-year
The sale will be through an “at-the-market” offering program, Tesla said Tuesday in a regulatory filing. Its shares fell as much as 3.2% before the start of regular trading.
The offering comes after Chief Executive Officer Elon Musk urged employees on Dec. 1 to be mindful about spending and play a “Game of Pennies” even after Tesla reported a fifth consecutive quarter of profit in October. The automaker had $14.5 billion in cash and cash equivalents at the end of September, but insatiable demand for its shares has allowed it to boost spending while still buttressing its balance sheet.
https://www.bloomberg.com/news/arti...to-5-billion-in-third-capital-raise-this-year
