Tesla Motors Announces $500 Million Common Stock Offering

Tesla Motors (NASDAQ:TSLA) has announced that it intends to offer $500 million of additional shares of common stock in an underwritten public offering. Proceeds will be used to accelerate the growth of its Tesla Energy business, and for the development of the Model 3 and Gigafactory.
As quoted in the press release:

In addition, Tesla intends to grant the underwriters a 30-day option to purchase up to $75 million of additional shares of common stock.
Elon Musk, Tesla’s CEO, intends to purchase $20 million of common stock in this offering at the public offering price.
Tesla intends to use the net proceeds from this offering to accelerate the growth of its business in the United States and internationally, including the growth of its stores, service centers, Supercharger network and the Tesla Energy business, and for the development and production of Model 3, the development of the Tesla Gigafactory, and other general corporate purposes.
Goldman, Sachs & Co. and Morgan Stanley are acting as lead joint book-running managers for the offering, J.P. Morgan and Deutsche Bank Securities are acting as additional book-running managers for the offering, and BofA Merrill Lynch and Wells Fargo Securities are acting as co-managers.

Click here for the full press release.