Tesla Prices Follow-On Offer of 6.925M Shares at $28.25
Tesla Motors, Inc. (NASDAQ: TSLA) announced today that it has priced and fully allocated its follow-on offering of 6,925,740 shares of common stock at a price to the public of $28.25 per share. In addition, Tesla has granted the underwriter a 30-day option to purchase up to an additional 1,038,861 shares of common stock. All shares are being offered by Tesla. The closing of the offering is expected to take place on or about October 3, 2012, subject to customary closing conditions. Additionally, as part of the offering, Elon Musk, Tesla's Chief Executive Officer and cofounder, has indicated that he will purchase up to 35,398 shares of common stock at the public offering price for an aggregate purchase price of approximately $1 million.
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