Tesla sold shares for $ 1.2 billion to prepare for the start of production of cars Model 3
When Tesla last year announced the Model 3 electric car, hardly anyone imagined what interest this car will cause consumers. As a result, in the shortest possible time, collected nearly 400,000 pre-orders for the car.
The problem was that Tesla was not yet production capacity within a reasonable time to meet such demand. This forced the company to begin to sell their shares to use the proceeds to increase production of cars.
Reportedly, the next stage of the sale of shares brought Tesla to about 1.2 billion dollars that on 20% has exceeded expectations of the company. Tesla has sold 1.3 million common shares for $ 350 million and raised $ 850 million through the sale of convertible bonds. Elon Musk has acquired common shares for $ 25 million now at his disposal 21% stake in Tesla.
As for Model 3, a small batch of cars will find their buyers in the end of the year.