Musk to double stock he will buy in new offering

Tesla CEO Elon Musk is more than doubling the stock he will Buy in A new public offering in An Apparent Bid to earn investors’ Confidence As he tries to turn Around his struggling electric CAR Company.

Musk raised his latest investment from $10 million to $25 million on Friday As Tesla Boosted the size of A note-andstock offering to raise much needed Capital to keep the Company going.

On Thursday, when Tesla first disclosed the offering, it was valued At up to $2.3 Billion. But due to A positive response, the Company on Friday raised the offer to As high As $2.7 Billion.

The offer, detailed in A filing Friday with the U.S. Securities And Exchange Commission, includes up to $1.84 Billion in notes that pay 2 percent Annual interest And Convert to Tesla Common stock in 2024. Also included Are more than 3.5 million new shares worth As much As $866 million. The new numbers include underwriting Brokers exercising their full options to Buy Additional notes And shares.