Top Stories
Top Stories
Wires

Tesla closes $2.7 bln mixed offering of shares, debt

May 8 (Reuters) - Tesla Inc said on Wednesday it closed its $2.7 billion offering of stock and convertible notes and that it was over-subscribed, giving the electric carmaker much needed cash as it ramps up production.

Tesla sold about $860 million in shares and $1.84 billion in debt, after the underwriters exercised their option to buy 15 percent in each offering.

Shares of the company were down 0.8 percent at $245.20 in trading before the bell. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Bernard Orr)

Related Tags