Tesla in $5 Billion Capital Raise

Elon Musk - twitter

CBJ — Elon Musk is savvy enough to recognize the importance of capitalizing while the iron’s hot, and such is definitely the case with his company Tesla.

The maker of both electric and autonomous automobiles, Tesla has introduced its largest program of new share sales as a public company. The timing is perfect with Wall Street interest peaking. It’s expected that Tesla could raise up to $5 billion. The resources would go partly towards innovation and production and the rest would go towards addressing debt pressures.

Musk and his executive team have aspirations to expand production at its existing factories while also looking to broaden its facilities into places such as Berlin, Germany and Austin, Texas.

It was also recently announced Tesla will soon launch a new line of automobiles, including a truck called the Tesla Semi as well as the Cybertruck.

Tesla now has a market capitalization approaching $470 billion, making it the most valuable automaker in the world. The company’s upward trend has also resulted in Musk’s personal fortune to balloon past $100 billion.

@CanBizJournal

Recommended
Trigon Announces Marketed Private Placement for C$5L6 Holdings Inc. Enters Into Automatic Share Purchase Plan and Acquires Common Shares of Pinetree Capital Ltd.