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USA: Biz Break: Tesla’s juiced-up IPO: Electric-car maker adds 2.2M shares

Today: Tesla adds 2.2 million shares to its IPO. Apple sells 1.7 million of its new iPhone 4. Amazon.com improves its Kindle apps for the iPad, iPhone and iPod touch.

Tesla’s IPO

A day before its expected debut as a public company, Tesla Motors — the Palo Alto electric-car upstart — has added 2.2 million shares to its IPO.

According to a filing this morning with the Securities and Exchange Commission, Tesla now intends to sell 11.9 million shares to the public, and company investors including CEO Elon Musk plan to sell 1.4 million shares — bringing the total to 13.3 million. In addition, Toyota Motor plans to buy $50 million

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in Tesla shares in a private placement.

Musk plans to sell 909,212 shares, but would remain the company’s largest investor, with a 28.4 percent stake.

Tesla expects the initial public offering shares will price in a range of $14 to $16 each.

According to a Bloomberg News report, Tesla would raise as much as $213 million under the revised plan. According to a TechCrunch post, the IPO would give Tesla a $1.5 billion market value.
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Source: mercurynews.com

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