
Tesla Motors sent out a press release this morning to announce a $500 million public stock offering. During the conference call discussing their second quarter financial results earlier this month, Elon Musk, Tesla’s CEO, let analysts know that the company didn’t need to raise money, but it could be a good idea to do it anyway in order to mitigate risk as the company increases its capital expenditure, which they think could reach $1.5 billion this year.
The company intends to use the money from the offering for “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.”
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