Tesla Inc said on Monday it could seek alternative sources of financing, days af...
- Tesla Inc said on Monday it could seek alternative sources of financing, days after Chief Executive Officer Elon Musk reached a deal with U.S. securities regulators to settle a dispute over his Twitter use, removing an overhang on the stock.
Many analysts had predicted the company would need to raise funds for its expansion, including the Shanghai factory, the upcoming Model Y SUV and other projects. Tesla has raised $15.1 billion through 31 funding rounds, according to data from investor-tracking website Crunchbase. “If it was just straight debt they’d have to pay a higher interest rate. But convertible investors are willing to pay for some potential future upside in the equity,” Geoffrey Dancey, managing partner and portfolio manager at Cutler Capital Management said after Musk’s comments on Wednesday.Tesla expects capital expenditures of $2 billion to $2.5 billion this year and about $2.5 billion to $3 billion annually for the next two fiscal years, a spokesperson told Reuters.
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