Tuesday, June 29, 2010

Tesla Motors To Debut On Market Today

Palo Alto-based Tesla Motors, the high visibility developer of electric vehicles headed by Elon Musk, priced its IPO at $17.00 per share last night, and will debut on the NASDAQ Global Select Market as TSLA today. Tesla said it would offer 13.3M shares of its common stock at $17.00 per share last night, with 11.88M of those shares coming from the company, and $1.4M of those shares from its stockholders. The IPO was underwritten by Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities. Benificiaries of the IPO include major shareholders Blackstar Investco (an investment arm of Daimler North America), Al Wahada Capital Investment, VantagePoint Venture Partners, and Valor Equity Partners, along with Elon Musk.