NEW YORK (US) -Tesla Inc launched a $5 billion capital raise on Tuesday. This is its second such move in three months as the electric-car maker is banking in on a meteoric rally through its shares this year.
The company’s shares, which touched a record high on Monday, made a complete U turn, with regard to the course to fall over 2% in premarket trading.
Tesla struck an equity distribution agreement with banks including Goldman Sachs and Citigroup Global Markets to sell its common stock, having aggregate sales proceeds of up to $5 billion.