Tesla is launching new shares and debt worth more than $2 billion, with Chief Executive Officer Elon Musk pitching-in $10 million as the electric carmaker gave-in to Wall Street pressure to bolster its cash reserves.
The company said in the filing that it would seek to raise $650 million in new shares and $1.35 billion in debt, with underwriters having the option to buy an additional 15% of each offering, potentially raising the proceeds to $2.3 billion.