Tesla Inc. TSLA said in a filing with the Securities and Exchange Commission that it plans to sell 2.65 million shares priced at $767 each, raising around $2.03 billion in total proceeds in an offering reported on Thursday.
Tesla CEO Elon Musk will participate by purchasing up to $10 million of common stock in this offering.
Oracle Corporation ORCL founder Larry Ellison, who is a member of Tesla's board of directors, will purchase up to $1 million of common stock.
SEC Inquiry
The company is facing fresh regulatory scrutiny over its finances. Tesla issued a 10-K filing Thursday indicating the SEC issued a subpoena in December seeking information related to financial data.
Price Action
Tesla shares were down 0.76% at $797.90 in Friday’s premarket session. The stock has a 52-week high of $968.99 and a 52-week low of $176.99.
Related Links:
Tesla Announces $2B Offering, Musk To Buy $10M In Common Stock
Tesla Recalls 15,000 Vehicles Due To Power Steering Issue Causing Potential Crash
Photo courtesy of Tesla.
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