Tesla to raise another $5bn in third 2020 share sale
The raise could lead Tesla’s cash balance to approach $20bn with the company’s credit quality now well in excess of its ratings
08 December 2020 - 17:19
Oakland — Tesla is taking advantage of its surging shares by going back to the capital markets for the third time in 10 months and raising as much as $5bn of common stock.
The sale is through an “at-the-market” offering programme, according to a regulatory filing, meaning the stock will be sold over time at prevailing market prices. After soaring almost 670% in 2020, Tesla shares dipped as much as 4.2% before the start of regular trading Tuesday...
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