Tesla set to raise an­other US$1.15b

New Straits Times - - Business | World -

SAN FRAN­CISCO: Tesla Inc said on Wed­nes­day it ex­pected to raise US$1.15 bil­lion (RM5.1 bil­lion) from a stock and se­nior notes of­fer­ing, an in­fu­sion of needed cap­i­tal as the car­maker en­ters pre-pro­duc­tion of its Model 3 sedan. A cap­i­tal raise has been an­tic­i­pated since late last year, gain­ing steam last month af­ter chief ex­ec­u­tive of­fi­cer Elon Musk said the com­pany could be “close to the edge” on cash needs. Tesla had US$3.39 bil­lion in cash and cash equiv­a­lents at the end of 2016, Agen­cies

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