ElectricMotorcycleForum.com
General Category => EV Stocks => Topic started by: Richard230 on May 27, 2011, 04:20:19 AM
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Tesla will be selling an additional 5.3 million shares of stock in the hopes of raising another $214 million of capital, which will be used to develop a new vehicle, the SUV-like Model X. Share prices are expected to be around $26 each. Another 795,000 shares will go to the underwriter, and the company CEO, Elon Musk will buy 1.5 million shares in a private sale at $26 each. Blackstar Investco, an affiliate of Daimler will also buy 644,475 shares directly from Tesla at the same price. Yesterday shares of Tesla rose to $28.58 on this news. Last July 7 the share price hit a low of $14.98 and have risen steady since then.