Tesla Discontinuing Model S 60 & 60D

In terms of the common stock offering, it was priced at $262 and Tesla ended up selling 1.33 million shares, compared to the 969,000 it initially planned to sell.

Earlier this week, Tesla announced offerings of $250 million of common stock and $750 million aggregate principal amount of convertible senior notes due in 2022 in concurrent underwritten registered public offerings. We will know within 30 days whether the underwriters decide to exercise their options to purchase, which would net Tesla an additional ~$180M.

Tesla's plan to spend $2 billion-$2.5 billion in the first half of 2017 in capital expenditures ahead of the July Model 3 launch left little cushion with $3.39 billion on the books in cash and cash equivalents at the end of 2016.

Denning was quick to point out that Tesla's former CFO Jason Wheeler said $1 billion of liquidity represents a "nice comfort level" for the company. The move is viewed as a gesture of faith in the company's prospects because some stockholders view a capital raise as dilutive to their investments.

Palo Alto-based Tesla took in $850 million from the issuance of convertible debt and $350 million from the sale of stock, according to a regulatory filing on Friday.

If true, that suggests the Model 3 production line is now complete and ready to start producing cars.

Musk was considering a number of options, including raising capital, to facilitate the manufacturing of the upcoming Model 3 sedan without drying up the funds.

No matter how one chooses to view the convertible offering, the fact that Tesla is still (second time in a year) able to tap into the debt/quity markets is testament to how far ahead of the competition Tesla really is. With production potentially starting in a few months, and ramping up later this year, Tesla may be looking to better distinguish the two in terms of pricing and range. The speculations were fueled by a statement by Musk past year in which he said that the company was "close to the edge" on its requirement for cash.

It seems Tesla will stick to that plan for these last Model S 60kWh vehicles to be sold, giving users the chance to "upgrade" to a 75kWh version down the road.

Like this


18 March 2017
Nintendo Switch won't be getting 'South Park: The Fractured But Whole'
GameStop has announced that they'll have fresh Nintendo Switch stock available on Wednesday, but only at in-store locations. According to a report from the Wall Street Journal , Nintendo Switch production is going to double over the next year.

18 March 2017
NC State to hire UNC-Wilmington's Kevin Keatts as men's basketball coach
Prior to taking the job at UNC Wilmington, Keatts was an assistant under Rick Pitino at Louisville from 2011 to 2014. UNCW signed Keatts to a contract extension that would keep him with the Seahawks through the 2021 season.

18 March 2017
Marine Le Pen pledges to work with Britain in Brexit negotiations
May for inviting Emmanuel Macron for talks at Downing Street, describing him as " the opposite of what Brexit stands for ". Macron, who is strongly pro-EU, represents "the opposite of what Brexit stands for", according to Le Pen.

17 March 2017
Month-Old Dies While Babysitter Tries To Reach 911
Stoddard County 911 dispatchers say sometimes they do receive ghost calls, but luckily their phone line isn't normally backed up. What happens is - when a person dials 911, their phone will continue dialing many times, registering as hang-ups.

17 March 2017
Cherrios is giving away seeds to help save the bees
As of 2016 the U.S. had already lost about 4.4 million of the 4.5 million honeybee colonies it had in 2006, Reuters reports. The Buzz the Bee mascot - who practically ate your morning breakfast with you - is no longer there.

14 March 2017
Protests after Netherlands bars Turkish minister's plane from landing
Rutte said he had spoken to Turkish prime minister Binali Yildirim eight times in the past few days, the last time at around 2am. Dutch authorities also intercepted a vehicle that was transporting Family Minister Fatma Betul Kaya to the European country.

14 March 2017
Potential Raiders Draft Target CB Sidney Jones Tears Achilles
If Jones ends up selected in the late second or early third round, he certainly could end up being the steal of this draft class. The depth of this year's draft at corner won't do Jones any favors here. "The last drill.

14 March 2017
Judge delays legal challenge to Donald Trump's new travel ban
There are various exemptions and waivers in the new ban including some that give consular officers flexibility to decide cases. The plaintiff originally came to the 2014 from Syria to, according to his lawsuit , "escape near-certain death".

13 March 2017
Elon Musk Bets His Paycheck
Tesla has both commercial and consumer versions of its innovative energy system that uses solar power to charge large batteries. Now, Elon Musk came into the picture when the aforementioned statements were picked up by Atlassian CEO Mike Cannon-Brookes.

12 March 2017
Uttar Pradesh Election Results 2017: Demonetisation + Surgical strike = 300+ seats for BJP
In a series of tweets, Modi said he was "overjoyed that BJP has received unprecedented support from all sections of society". Home to 220 million people, Uttar Pradesh boasts a population larger than those of Germany and France combined.