Tesla is raising cash.
The electric-car maker on Thursday revealed plans to sell a combination of stock and debt to raise about $2 billion of cash.
Tesla plans to sell 2.72 million shares and $1.35 billion worth of notes, the automaker said in a filing out Thursday morning. Shares ended Wednesday’s session at a more than two-year low of $234.01 apiece, meaning the sale of 2.72 million shares would generate about $653,000. Combined with the debt offering, the company would raise about $2 billion.
Thursday’s announcement comes about two weeks after Tesla announced a wider-than-expected first quarter loss.
This story is developing. Check back for updates.
Join the conversation about this story »
NOW WATCH: Warren Buffett, the third-richest person in the world, is also one of the most frugal billionaires. Here’s how he makes and spends his fortune.