Tesla adjusted its fundraising plan announced a few days ago and now seeks for up to $2.7 billion compared to the previously announced up to $2.3 billion (including 15% option for underwriters).

The required capital is to be raised in two ways:

  • issues of new shares - up to $860 million
  • issues of new debt - up to $1,840 million
  • Total up to $2.7 billion (including 15% option for underwriters)

Elon Musk intends to participate in the issue of shares with a $25 million purchase (up from the previously announced $10 million).

Tesla has roughly 2.2 billion of cash and equivalent, while the capital expenditures plan is:

2019: $2-2.5 billion
2020: $2.5-3 billion
2021: $2.5-3 billion

Source: Reuters

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