May 28, 2024

Tesla and their IPO results

Tesla Model S

Tesla Motors, the exclusive will start trading today on the NASDAQ Stock Market under the ticker of TSLA has already sold its shares and with quite a bit of a result.

Tesla Model S
Tesla Model S

The company has already raised $226 million by selling shares above its forecast price range, according to the Securities and Exchange Commission filing.

Tesla sold a total of 13.3 million shares at $17 each, more than its initial range of $14 to $16.

The money will go towards paying for the factories, for the possible acquisitions and, most importantly, for the upcoming production of the Tesla Model S Sedan.

The Tesla Motors IPO was the first of it’s kind by an American automaker ever since Ford Motor Company went public way back in 1956.

All we can say so far is that the people behind Tesla really deserve our hearty congratulations and that champagne better be popping about now. Or perhaps we should consider waiting for an official press release before any celebrating is done.

Either way, it’ll be very interesting to see exactly what effect this success will have on owner’s Elon Musk divorce and his finances.

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