2/13, 1:53 PM (Source: TeleTrader)
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Chart for: Tesla, Inc.

Tesla to offer $2B in common stocks

Tesla Inc. will offer $2 billion in common stocks in order to "to further strengthen its balance sheet, as well as for general corporate purpose," the company announced on Thursday.

The California-based car manufacturer CEO Elon Musk will purchase stocks worth $10 million in this offering, while the firm's board member Larry Ellison intends to buy up to $1 million in stocks, according to the statement.

Tesla's equities lost nearly 5% in premarket trade on Thursday following the announcement.

Breaking the News / GA