The concurrent offerings include $650 million of common stock and $1.35 billion of convertible notes due in 2024, the Palo Alto, California-based company said early Thursday. Underwriters have a 30-day option to purchase an additional 15% of each offering, which could boost the total amount to $2.3 billion, Tesla said. Musk, already Tesla’s biggest shareholder, plans to buy $10 million of the new stock offering. In the nine years since its initial public offering, Tesla has posted only four profitable quarters, of which only two were consecutive. Goldman Sachs and Citigroup are leading the offering, Tesla said.

Source: Forbes May 02, 2019 16:36 UTC