Monday, June 28, 2010

Tesla Expands IPO Size

Palo Alto-based electric car firm Tesla Motors said today in a regulatory filing, that it is expanding the size of its IPO to 13.3 million shares, up from an earlier, 11.1 million shares expected in this weke's IPO. The firm has estimated its IPO price at between $14.00 and $16.00 per share. The additional shares would bring the firm's IPO take to $244.7M. Tesla is slated to price its IPO tonight, and is will list on the NASDAQ as TSLA. Tesla Motors is headed by Elon Musk.