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Tesla to raise $1.15 billion ahead of Model 3 production

Tesla to raise $1.15 billion ahead of Model 3 production

Thursday, March 16, 2017, 7:54 PM

Tesla Inc said it expects to raise about $1.15 billion from a stock and senior notes offering, an infusion of needed capital as the electric car maker enters pre-production of its upcoming Model 3 electric sedan. A capital raise by Tesla has been anticipated since late last year, gaining steam last month after the company could be “close to the edge” on cash needs.
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