Tesla wants to raise up to $ 5 billion – L'Echo

Automaker Tesla on Tuesday announced plans to raise up to $ 5 billion through a massive share sale program.

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plans to sell up to $ 5 billion in shares, by capitalizing on a vast share sale program and on a recent fraction of its action by five on the New York Stock Exchange. This made the title more accessible to company employees and shareholders, while it is one of the highest on Wall Street.

The electric car maker will now sell common stock "from time to time" thanks to an agreement with several banks, according to a document sent to the US stock exchange authorities (SEC). Goldman Sachs, BofA Securities, Barclays, Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, SG America Securities, Wells Fargo and BNP Paribas have been mandated to carry out the capital increase.

The biggest fundraiser?

Tesla plans to use this program to strengthen its balance sheet and for the general needs of the company. It could be the biggest fundraiser ever for Elon Musk's company if it sells at least 2.34 billion of dollars. So far, Tesla has raised around $ 14 billion over the past decade through secondary equity offerings.

Tesla shares have been in high demand for several months on the stock market, to the point that the group's capitalization now crushes that of the largest automobile manufacturers. The stock has climbed from nearly 500% this year, converting Elon Musk into the third richest person in the world.

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