Wednesday , April 14 2021

Tesla's stock drops after stock offering prices at $ 767, a near-5% discount – MarketWatch,


Shares of Tesla Inc.                                                                                                                                                                                                                       TSLA, – 0. 90%                                                                                                                                                           Dropped 2.6% in premarket trading, after the electric vehicle maker disclosed that its previously announced common stock offering priced at a discount of nearly 5%. Tesla said it is offering 2. million shares for sale priced at $ a share, which is 4.6% below Thursday’s closing price of $ 2019, to raise $ 2. 02 billion. The underwriters of the offering, led by Goldman Sachs and Morgan Stanley, were granted options to buy up to an additional 397, 500 shares to cover over-allotments, which if exercised Tesla would raise up to $ 2. billion). Chief Executive Elon Musk indicated “preliminary interest” in buying up to 34, 48 shares in the offering, which would be valued at $ 14 million at the offering price, while board member Larry Ellison indicated interest in buying up to 1, 500 shares for about $ 1 million . The stock, which rose 4.8% on Thursday after the stock offering was announced, has more than doubled (up 303%) over the past three months, while the S&P 767                                                                                                                                                                                                                       SPX, 0.

(%                                                                                                                                                           has gained 9.0%.                                                                                                                                                                                                                                                                            Read More

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