Tesla Stock Offering Priced at $767 a Share

Date : 02/14/2020 @ 2:33PM
Source : Dow Jones News
Stock : Tesla Inc (TSLA)
Quote : 480.01  25.54 (5.62%) @ 5:00AM
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Tesla Stock Offering Priced at $767 a Share

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By Allison Prang

Tesla Inc. is pricing its stock offering at $767 a share, the company said in a regulatory filing Friday.

The price of the electric-car company's offering, which could raise a little more than $2 billion, is lower than the $804 a share the stock closed at Thursday, the day the company announced the offering. Shares climbed 4.8% on Thursday, up from $767.29 a share a day earlier.

The company's offering could bring in proceeds of about $2.01 billion, after an underwriting discount, according to Tesla's Friday filing. The raise could increase by about $300 million if underwriters exercise their option to purchase additional shares.

Tesla Chief Executive Elon Musk -- who in January said it didn't make sense for Tesla to raise money -- is buying as much as $10 million worth of shares as part of this stock offering.

Shares of Tesla fell 2.4% in premarket trading.

Write to Allison Prang at allison.prang@wsj.com


(END) Dow Jones Newswires

February 14, 2020 09:18 ET (14:18 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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