Tesla to raise $1 billion through stock and loan offerings

Tesla to raise $1 billion through stock and loan offerings

Tesla will raise a little more than $1 billion to fund the launch of its upcoming Model 3 electric car and to strengthen its balance sheet, the company announced today. Last year, Tesla made a similar stock offering to fund Model 3 production, although without the convertible notes, and another back in 2015. $250 million will come from a secondary stock offering, plus $750 million in convertible senior notes (basically a loan), as well as options for the underwriters to purchase an additional 15 percent of each offering.

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