Tesla Looks to Raise as Much as $2.3 Billion Through a Bond and Stock Sale
Once again Tesla is on the news.
Tesla is trying to raise money as much as $2.3 billion through bonds and stock shares. They were not expecting to have so little companies cash on hand. Elon Musk the chief executive will be helping out by buying near $10 million of those shares.
Tesla could bring in $738.7 million in net proceeds from the stock offering and $1.55 billion from the debt issuance. With this being done Teslas shares rose 4.2% in premarket trading.
The reason they decided they needed more cash on cash because Tesla had $2.2 billion which dropped 40% more than the previous three months.
Tesla's cash on hand dropped after they struggled with shipping the Model 3 to China and Europe.
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