Wednesday, May 25, 2011

Tesla Files For Secondary Offering

Palo Alto-based Tesla Motors, the manufacturer of electric cars, has filed for a secondary IPO, saying this morning in an filing that it is looking to offer up 5,300,00 shares of its common stock in a new offering. The firm is looking to raise up to $158.47M in the offering. Tesla is publicly traded on the Nasdaq Global Select Market as TSLA; the firm had its IPO in June of last year. At that time, Tesla debuted at $17.00 per share; the firm is now trading at around $28.47.