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John Petersen
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John is a lawyer and accountant with over three decades of corporate finance, due diligence, M&A advisory and related legal services for manufacturers, innovators and investors in the energy storage and renewable energy sectors. Over the last eight years John has earned a global following for... More
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  • Tesla Increases Offering Size and Prices at Top of Range 2 comments
    Jun 28, 2010 11:03 AM
    Monday morning:

    Tesla filed an amendment to its registration statement this morning and will offer 13.3 million shares at $16, the high end of the range specified in its prior filing. Apparently their road show has gone well and there is significant demand.

    Originally the IPO included 10 million shares that were being offered for the company and 1.1 million shares that were being offered by selling stockholders.

    The new filing includes 11,880,600 shares that will be offered by the company and 1,419,400 shares that will be offered by selling shareholders. The change will bump the gross proceeds to Tesla by roughly $30 million.

    Monday evening:

    Forbes is reporting that the IPO has been priced at $17 per share instead of $16, which will result in an additional $12 million in proceeds to the company.

    I'll be interested to see how the IPO goes and wish Tesla the best of luck tomorrow.

    Disclosure: No position
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  • Mark Divy
    , contributor
    Comments (213) | Send Message
    Tesla has made a nice move over the past couple of days - up to $30, and holding around $25 today. Will be interesting to see what the company can now do with the cash infusion. I am impressed with the car specifications form Tesla, but not sure they will be able to price themselves into a real market player. Of course, they are not trying to sell to the cash conscious buyer so not likely to have direct competition from the Leaf.... The TOYOTA connection might be the biggest news for Tesla, strangely falling just prior to their IPO.
    30 Jun 2010, 03:10 PM Reply Like
  • John Petersen
    , contributor
    Comments (30632) | Send Message
    Author’s reply » A recent article in Forbes suggested that the Toyota investment may have been a cheap way for them to get out from under the headaches caused by the closure of the NUMMI plant. All I'll say is that $50 million isn't even 1% of Toyota's annual R&D budget.
    30 Jun 2010, 07:44 PM Reply Like
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