Tesla Revises IPO To $178m-$185m
June 15th, 2010 10:46 AM Share
The AP [via Google] reports that Tesla has revised its IPO offering to $14 to $16 per share, for a total capital raising of up to $185m. The WSJ [sub] estimates the IPO’s take at $178m. Previously Tesla had valued its offering at $100m. This revision is not inconsequential: the offering is now valued higher than Tesla’s cumulative revenue since 2003, which now stands at $147.6m. The company has lost nearly $300m since 2003, and will continue to lose money until the Model S sedan starts selling. Especially with $100m-$125m in capital expenditures planned for this year. GM’ it seems, won’t be the only auto firm sweating an IPO this year.
Published June 15th, 2010 10:46 AM
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$185 million? Where's it going to get the other $2-4 billion that it needs to bring a car to market? Elon better kiss up to Mr. Toyoda.
a bridge o'er to Brooklyn's incredibly swell And to you, for just $14-16 a share, I'll sell
I hope the Model S will make it into production. It's a very well done design with good proportions and good eye to detail.
Oh yeah, I'll invest out of sympathy to bail out the bankrupt Elon Musk. So he can both keep paying his ex-wife AND not lose his young girlfriend that's living in his coastal manse. He needs our help. It's not enough that he's counting on our taxpayer dollars to fund his rocketship company. It's not enough that our taxpayer dollars subsidize his electric car. We must help him before his hot girlfriend finds out that he's broke and can't pay his debts. Us men have to stick together on these issues.