Company also sells $152.43 million of stock in public offering
By Devika Patel
Knoxville, Tenn., June 3 - Tesla Motors, Inc. said it priced a $59.06 million private placement of shares. It will sell 1,416,000 shares to Elon Musk, its chief executive officer, and 637,475 shares to Blackstar Investco LLC at $28.76 per share.
The price per share is equal to the June 2 closing share price.
Additional, the company priced and allocated a public follow-on offering of stock. The deal raised $152.43 million through underwriter Goldman Sachs & Co. and has a greenshoe for $22.86 million.
Tesla sold 5.3 million common shares, also for $28.76 each, in the public offering.
Proceeds from both offerings will be used to develop the company's Model X crossover vehicle.
Based in Palo Alto, Calif., Tesla designs, develops, manufactures and sells fully electric vehicles and electric vehicle powertrain components.
| Issuer: | Tesla Motors, Inc.
|
| Issue: | Common stock
|
| Amount: | $59,057,941
|
| Shares: | 2,053,475
|
| Price: | $28.76
|
| Warrants: | No
|
| Investors: | Elon Musk (for $40,724,160), Blackstar Investco LLC (for $18,333,781)
|
| Pricing date: | June 3
|
| Stock symbol: | Nasdaq: TSLA
|
| Stock price: | $28.76 at close June 2
|
| Market capitalization: | $2.98 billion
|
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