Tesla had been expected to raise capital since late a year ago, with the expectations gaining steam last month after Musk said the company could be "close to the edge" on cash needs.
Tesla Inc's $1.2 billion share and convertible debt offering on Friday demonstrates once again the unflagging ability by the luxury electric carmaker and its high-profile head, Elon Musk, to tap Wall Street for sorely needed cash.
Tesla had $3.39 billion in cash and cash equivalents at the end of 2016, but most comes from a May stock offering, cash from its SolarCity acquisition and almost $1 billion in draws on its credit facilities.
Tesla (TSLA) has announced new offerings of $250 million of common stock "and $750 million aggregate principal amount of convertible senior notes due in 2022 in concurrent underwritten registered public offerings", according to a new press release from the company.
According to a report by Fortune, Tesla shares opened at $264 today morning before dropping 0.7% and then rebounding.
Elon Musk recently attended the 2017 World Government Summit in Dubai, to launch Tesla in the UAE.
Watch all the action from the Cheltenham Festival Friday
I wasn't too anxious about the result because we have had such a good day anyway but Defi made it look easy", she said. Despite his late charge, Mullins couldn't hold off Gordon Elliott in the race to be leading trainer at the Festival.
Pandora launches premium music service
Thumb up a few tracks on any Pandora radio station and Premium will automatically create a new playlist of these songs too. Existing Pandora radio subscribers will be able to try the new streaming service for no additional cost.
Tesla also hasn't provided an update on the number of reservations taken for the Model 3, which is believed have sold out for the first year; advance reservations totaled 373,000. With that into consideration, the additional funding of up to $1.15 billion will definitely provide the company with an extra safety net as the mass production of the Model 3 begins this July.
Tesla is offering to sell 1,335,878 common shares at $262 per share, for a total of $350 million, the electric vehicle maker said in a SEC filing on Friday.
Tesla's capital raise was widely expected.
Worth noting, analysts have been expecting this move from Tesla for about a year now.
Several analysts forecasted a capital raise closer to $2.5 billion.
"As a state that has built its reputation on its clean green environment, this plan recognises that clean energy is our future". The aim is also to create more self-sufficiency using local resources, while reducing dependence on coal from Victoria.
The remarks upped the ante in a war of words over Scottish independence as Britain prepares for intense European Union exit talks. Theresa May called for the country to come together to ensure "we can get the best deal for the whole of the United Kingdom".
Zoe Perry will co-star as his mother, a role previously played on " Big Bang Theory " by Perry's own mom , Laurie Metcalfe. Parsons will narrate the series, which unlike its laugh-track laden predecessor, will be shot in the single-camera format.
Giving those explanations, it's hard to understand why the United States is still allowing travel from, say, Afghanistan. It still suspends admission of refugees and still bans issuing visas to a group of Muslim countries.
He also criticized Democratic rival Hillary Clinton for receiving millions for paid speeches to Goldman and other financial firms. Attorney was marked by his willingness to follow cases where they took him and regardless of his targets' political affiliations.
The nation's active oil-rig count has nearly doubled since May to 617 last week, according to Baker Hughes. The contract dropped $0.79 to $48.49 on Friday, capping the biggest weekly decline since November.
Goa Governor Mridula Sinha on Sunday appointed Defence Minister Manohar Parrikar as the new Chief Minister of Goa. Mr Parrikar exuded confidence that the BJP would prove its majority on the floor of the House on March 16.
Mount Etna explosion injures at least four in Italy
Thursday's explosion was the result of a so-called phreatomagmatic eruption, caused by magma hitting water - in this case snow. The BBC crew was shaken but physically OK despite having suffered cuts, bruises and burns , she wrote.
Princeton was this close to first March Madness shocker
As a standout at Marian, he was the star of the team before heading off to Princeton . "And we had to win it playing defense". And while they're a bit weak on the offensive boards, Notre Dame is a team that will not be able to punish them there.
Twitter Accounts Hijacked With Nazi Messages
Twitter Counter's Ginor added: "We do not store users' Twitter account credentials (passwords) nor credit card information". Twitter Counter informed users that it has now cut off tweet posting through its system and changed its Twitter app key.
SC allows Goa swearing-in, orders Thursday floor test
Note: Manipur and Goa have been marked in red because at the time of writing, no party was in a position to form the government. However, Congress MLA Thounaojam Shyam Kumar, who has reportedly joined the BJP, was conspicuous by his absence.
Briton jailed in Bali for murder of policeman
Her British DJ boyfriend, David James Taylor, was convicted of the same offence and jailed for six years. Taylor, known as DJ Nutzo, was supported in court by his parents John and Janet Taylor from the UK.