Tesla plans to raise $2 billion

Jamie McKane

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Tesla plans to raise $2 billion

Tesla Inc. plans to raise about $2 billion through debt and stock offerings, after Elon Musk overestimated the ability of the Model 3 sedan to generate enough cash for the company to be self-sustaining.

The electric-car maker filed Thursday to sell $1.35 billion in notes and about $650 million in shares. Tesla stock, which had plunged 30 percent this year, rallied 4.1 percent to $243.61 at 9:39 a.m. in New York, and its bonds advanced.

[Bloomberg]
 
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