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| Tesla launches a $ 5 billion equity offering |
Tesla (Tesla) today announced its largest IPO selling plan since moving to a public company a decade ago to tap into growing interest in Wall Street and raise $ 5 billion in financing to help ease pressure on future debt. scale down.
This decision was taken the day after the 5-share split went into effect. It was Tesla's first split stock since it went public almost ten years ago. She followed this step exactly and the share price rose that year. Six times as much.
The electric car maker said in a statement: It will sell ten major banks, including: Goldman Sachs & Co, Bank of America, Citigroup Global Markets and Morgan Stanley (Morgan Stanley & Co.). Deadline to complete it.
Since announcing the split on August 11, the company's share price has skyrocketed, rising by an additional 70% and trading above $ 2,000 on Friday before the split.
Today, Tesla's market cap is around $ 465 billion. In July, he became the largest automaker in the world, raising CEO Elon Musk's personal fortune to more than $ 100 billion. .
Over the past year, Musk has repeatedly reassured investors that Tesla will not need to raise additional funds for expensive projects, including setting up the first plant in Europe and the recently announced announcement in nearby Austin, Texas. New plant.
However, in February the company announced plans to raise $ 2 billion through stock offerings. The company announced on Tuesday that it plans to use the proceeds from the offering for accounting and general corporate purposes.