Electric car maker Tesla Motors Inc (TSLA.O) plans to raise up to $214 million through a secondary public offering of its shares and a private placement. Tesla shares rose 5.8 percent to $28.27 in midday trading on Nasdaq. In a regulatory filing on Wednesday, Tesla said it planned to raise up to $158.5 million through a public offering of 6.095 million of its common shares, including 795,000 shares granted to the underwriter in a 30-day option, at $26 a share. In the private placement at the same price, Tesla said it would sell 1.5 million shares to Chief Executive Elon Musk and 644,475 shares to Blackstar Investco LLC, an affiliate of Daimler AG (DAIGn.DE).
Tesla Motors, Inc., incorporated in 2003, designs, develops, manufactures and sells fully electric vehicles and electric vehicle powertrain components. Shares of TSLA traded higher by 4.75% or $1.27/share to $27.99. In the past year, the shares have traded as low as $14.98 and as high as $36.42. On average, 1321460 shares of TSLA exchange hands on a given day and today's volume is recorded at 2727455.
Source
