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Musk Memo Clarifies Plans to Take Tesla Private | Investopedia

The saga of Tesla Inc. (TSLA) continues. On Aug. 7, Tesla founder and CEO Elon Musk offered a hint on Twitter as to his plans to take the company private at $420 a share and that he had “funding secured.” The immediate response was one of confusion, with investors unsure of whether Musk’s Twitter account had been hacked—it was odd to make such an important announcement via tweet.

However, later that day and throughout the rest of the week, Tesla spokespeople confirmed Musk’s proposed shift. A message from the Tesla board of directors followed. Still, there have been many lingering questions about the future of Tesla: Where will the funding come from? Why the somewhat arbitrary decision to target $420 a share? What legal issues will the company face in attempting to go private? Now, Musk has released another memo on the Tesla website blog that addresses some of the questions he has received since his initial announcement.

More www.investopedia.com/news/musk-memo-clarifies-plans-take-tesla-private/

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