Skip to main content

Tesla closed its stock offering – expects $738.3 million in net proceeds

tesla-bounces-backLast week, Tesla announced a secondary stock offering to try to raise $500 million. Last night, the company released a SEC filing to disclose the closing of the stock offering, and they expect net proceeds (after commissions) to reach $738.3 million, or 47% higher than originally anticipated.

The company intends to use the money raised from the offering for “the growth of its stores, service centers, Supercharger network and the Tesla Energy business, and for the development and production of Model 3, the development of the Tesla Gigafactory, and other general corporate purposes.”

Several banks were underwriting the offering. Here’s the breakdown of the shares for each bank:TSLA underwriters

Elon Musk, Tesla’s CEO, bought $20 million worth of stock in the offering.

The proceeds from the offering will add to Tesla’s cash position, which was $1.15 billion as of June 30th, 2015. The company suffered from a cash outflow of $755 million for the first 6 months of 2015.

Image courtesy of Reuters: Deepak Ahuja, Kimbal Musk, Elon Musk and Talulah Riley during Tesla’s IPO.

FTC: We use income earning auto affiliate links. More.

You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.



Avatar for Fred Lambert Fred Lambert

Fred is the Editor in Chief and Main Writer at Electrek.

You can send tips on Twitter (DMs open) or via email:

Through, you can check out Fred’s portfolio and get monthly green stock investment ideas.