Soros Fund Management bought $35 million worth of convertible notes, which are bonds that can be converted into a specified number of common stock, according to a Securities and Exchange Commission (SEC) filing released on Tuesday. The convertible bond is due in March 2019.
Tesla has had a tough start to the year. The company has faced major production problems with its mass-market Model 3 and reshuffled top management, while CEO Elon Musk faced criticism after dismissing analysts' questions on a recent bizarre earnings call.
The electric carmaker relies heavily on the debt markets to raise money. Last year, it raised $1.8 billion in its first high-yield "junk" bond offering. Some analysts suggest that Tesla may have to raise more money to allow it to continue operating.