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2 years ago|18 views

Tesla seeks to raise US$2.3 bil. after concerns it's running out of money

Arirang News
Arirang News
A week after posting a huge first quarter loss, Tesla is offering 659 million U.S. dollars of common stock and 1-point-three-five billion dollars in convertible senior notes due in 2024 in two separate offerings.
The company is seeking to raise 2-point-3 billion dollars and CEO Elon Musk will participate by personally buying 10 million dollars' worth of stock.
Last week, Tesla said it had posted losses of 702 million dollars in the first three months of the year and had sold 31 percent fewer vehicles in the first quarter than in the fourth quarter of 2018.
Tesla's share price has fallen close to 30 percent over the last six months as investors have grown concerned about the company's future.
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