Tesla applies to issue 2.65 million shares at $767 a share

Tesla will issue common stock at $767 a share to raise $2 billion. Tesla yesterday announced plans to raise $2bn through the issuance of common stock. Tesla said it would issue 2.65m new shares, with CEO Elon Musk buying up to $10m worth of shares and Larry Ellison, oracle’s co-founder, buying up to $1m.

Tesla applies to issue 2.65 million shares at $767 a share

Tesla will issue the new shares at $767 a share, a 4.6 per cent discount to Tesla’s closing price of $804 yesterday, people familiar with the matter said today. Tesla shares were down 0.9 percent at $796.68 in premarket trading.

Tesla said the proceeds from the new issue will be used to strengthen its balance sheet and general corporate use.