Tesla Sells. More Shares

Bertel Schmitt
by Bertel Schmitt

Say what you want about Tesla, but people are buying. Not so much the cars, more so shares in the company. According to a regulatory filing, Tesla plans to sell 5.3 million new shares to the public, and up to 795,000 more to the underwriter, at $26 each. That would raise up to $158.5 million. According to Businessweek, “CEO and co-founder Elon Musk will also buy 1.5 million shares at the same price in a private sale. Blackstar Investco LLC, an affiliate of Daimler AG, will buy 644,475 shares directly from Tesla at the public offering price. That would bring total proceeds of $214.3 million.” The proceeds are mostly for developing a crossover Tesla.

How the formerly broke Elon Musk found $39 million to dump into Tesla will be left for another day and another divorce court of the rich and famous story. More interesting is that Daimler expressed renewed interest in Tesla, to the tune of $16 million, even if its just to maintain their percentage.

Both Toyota and Daimler were early industry investors into the battery-powered car company. Not just for the dividends. Tesla supplies batteries for the plug-in Smart. For Toyota, Tesla makes an electrified RAV4.

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  • SCE to AUX SCE to AUX on May 26, 2011

    Cue the Tesla haters.... Say what you will, but at least people are lining up to invest in Tesla (and actually buying their products); Saab, not so much.

    • See 1 previous
    • Christian Wadskov Christian Wadskov on May 26, 2011

      @Bertel Schmitt Did you know that the fiscal realities of Tesla is that EV is going out of style fast? Just speculating of course. You still need to prove your points about the other brand. By the way, did you know that the people that owns TTAC also owns three Saab sites? Just check with your Beancounters :-) Just for additional irrelevant information

  • Cmoibenlepro Cmoibenlepro on May 26, 2011

    Any news about the Model S?