Friday, 28 April, 2017

Tesla raises $1.2 bln, tapping market again for funding

Tesla to raise $1.15 billion in series of offerings Tesla returns to Wall Street as Elon Musk readies Model 3 for market
Mae Harvey | 18 March, 2017, 01:37

The capital comes at a critical time for Tesla, which has a number of capital intensive projects underway-notably the pre-production of the Model 3.

Tesla had $3.39 billion in cash and cash equivalents at the end of 2016, but most comes from a May stock offering, cash from its SolarCity acquisition and almost $1 billion in draws on its credit facilities.

Tesla has raised roughly $1.2 billion in a quest for capital ahead of the auto company's launch of the increasingly important Model 3 vehicle.

Tesla said it sold 1.3m common shares at $262 each, raising $350m.

The transaction could be worth as much as $1.4 billion to Tesla if underwriters Goldman Sachs, Deutsche Bank, Citigroup, Morgan Stanley, Barclays, Merrill Lynch and Credit Suisse exercise all their options. With that added to the tally, the maximum amount the company could potentially raise touches the $1.15 billion mark.

Trump sending massive USA attack force to OBLITERATE ISIS terror capital Raqqa
Turkey has declared the YPG a terrorist organization and considers it to be linked to its own home-grown Kurdish insurgency. SDF fighters have been on the offensive in the Raqqa area since November and have closed major supply roads used by IS.

Tillerson to visit DMZ as part of S. Korean tour
Kishida said he had conveyed Japan's views to Tillerson for consideration during the policy review, but he didn't go into details. The regime change idea may resemble past actions like the 2003 invasion of Iraq that toppled Saddam Hussein.

March Madness: 5 can't-miss games to watch on Day 1
Brey's crew made only one of its final 10 field-goal attempts (a Colson layup at 2:07 to push Notre Dame ahead by three). The Republican has been friends with Notre Dame coach Mike Brey since he worked at the University of Delaware.

Despite facing major financial hurdles, and the dilutive nature of stock sales, the triumphant offering confounds Tesla skeptics, who point to the loss-marking company's $42.37 billion market capitalization - greater than that of Nissan Motor Co Ltd, which reported a profit of $4.7 billion past year.

A capital raise by Tesla has been anticipated since late past year, gaining steam last month after Chief Executive Elon Musk said the company could be "close to the edge" on cash needs.

CEO Elon Musk attended the 2017 World Government Summit in Dubai, at which he made Tesla's official launch speech, and now that Tesla has now entered the United Arab Emirates (UAE), the company is taking orders.

Tesla chief executive Elon Musk has indicated his preliminary interest in buying up to 95,420 shares of Tesla common stock for a purchase price of around $25 million in this offering at the public offering price, the company said.

Several analysts forecasted a capital raise closer to $2.5 billion. Especially considering that the image featured a auto that appeared to have been in the final phases of the design process.

Recommended

Google Has a New Algorithm That Shrinks JPEGs by 35% Google Has a New Algorithm That Shrinks JPEGs by 35% In other words, given two images of identical size, the Google-compressed JPEG looks nicer. Google describes the slower compression process as a "worthy tradeoff".

Rachel Maddow's Trump tax show dominates cable ratings Rachel Maddow's Trump tax show dominates cable ratings Not only did she break the first leaked tax returns of Donald Trump , but she also handled a misgendered flub with humor. It also set a series best among viewers 25-54, averaging 1.4 million in the news demo.

Coroner: Man found in burned Glen Carbon home was shot in head Coroner: Man found in burned Glen Carbon home was shot in head The baby and his six siblings, four boys and two girls ranging in age from 4 to 14, were placed in the care of family members. Though no one else was found in the auto , the Illinois Department of Conservation had a boat on the lake searching the water.

Steve Agnew determined to show his managerial credentials at Middlesbrough Steve Agnew determined to show his managerial credentials at Middlesbrough Harry Redknapp is interested in returning to management with Middlesbrough should Steve Agnew's spell in charge prove unsuccessful.

CHELTENHAM RACING TIPS: Bank on River for Gold Cup glory CHELTENHAM RACING TIPS: Bank on River for Gold Cup glory She added: "I've never had a runner in the race before so to train the victor - I don't know when I'll come down to earth". Grade One victor as a novice at Kempton last season, when Native River was third.

Guardiola to stay on the attack for Liverpool test Guardiola to stay on the attack for Liverpool test Atletico Madrid won the first leg 4-2 away to Bayer Leverkusen, so their passage to the quarter-finals was never really in doubt. Bottom club City produced spirited resistance but Rush finished them off after a length-of-the-pitch counter-attack.

Amazon brings Alexa to the iPhone Alexa in the Amazon app supports voice-driven skills already set up in the the Alexa app or on alexa. amazon .com. That app tracks voice search activity for the Echo but doesn't have any voice interaction capability of its own.

Secretary of State Tillerson used e-mail alias as Exxon CEO Use of the email alias was seized upon by environmentalists on Tuesday, who said it revealed a pattern of deception. New York Attorney General Eric Schneiderman says that while U.S.

Penn West Petroleum Ltd (PWE) Upgraded to Buy at TD Securities Penn West Petroleum Ltd (PWE) Upgraded to Buy at TD Securities Movements above 70 are interpreted as indicating overbought conditions; conversely moves underneath 30 notify oversold conditions. The stock stands almost $2.01 off versus the 52-week high of $7.3 and $1.59 above the 52-week low of $3.7.

Trump budget goes big on border wall, short on agents Funding for the government runs out in late April. "And so now Donald Trump wants the American taxpayers to pay for it". Building a wall - and having Mexico pay for it - was a regularly repeated campaign pledge of Trump's.

Two Russian spies among four charged in United States over Yahoo hack Two Russian spies among four charged in United States  over Yahoo hack The government "will vigorously investigate and prosecute the people behind such attacks to the fullest extent of the law". They hired Alexsey Belan and Karim Baratov, described as "criminal hackers ", to carry out the attacks.

UCL Match Report: Monaco v Manchester City 15 March 2017 UCL Match Report: Monaco v Manchester City 15 March 2017 Tiemoue Bakayoko scored the deciding goal 13 minutes from time with a delicious header, beating Willy Caballero at the front post. We have to admit that the German side didn't have any luck because they had several situations where they missed.

BBC team among those injured in Mount Etna eruption BBC team among those injured in Mount Etna eruption Morelle said a big ash cloud was visible above Etna and the plume from the explosion was visible a long way off. Both eruptions were classed as "Strombolian" activity by volcanologists.

Post-Fed trades fade as United States stocks, bonds retreat Post-Fed trades fade as United States  stocks, bonds retreat The dollar fell 0.5 percent against a basket of key currencies, adding to Wednesday's steep slide after the Fed's decision. Gold futures was up 2% at $1225 per ounce, before Federal Reserve's statement was announced on Wednesday.

Tillerson shuns all but conservative website on Asia tour Tillerson shuns all but conservative website on Asia tour Last week, the State Department officially offered McPike an opportunity to cover the secretary's upcoming trip to Asia. Either circumstances will remain the same, and the press will still have limited access to Tillerson when he travels.