Tesla's Latest Capital Raise Is Not Surprising, but We Remain Concerned About Debt Maturities
We had expected Tesla to have a capital raise in 2017 given CEO Elon Musk's February comments that the company would be on the edge if it did not raise money this year. Tesla acted on this comment on March 15 by announcing a capital raise, but in a mixed form, unlike its recent all-equity deals. The company estimates it will raise gross proceeds of $1.15 billion by issuing stock and convertible debt due in 2022. Conversion rates and interest rates will be determined later but Tesla says in a fil...Tesla designs, develops, manufactures, sells and leases electric vehicles and energy generation and storage systems, and provides services related to its products. The company operates as two reportable segments: automotive, which includes the design, development, manufacturing, sales, and leasing of electric vehicles as well as sales of automotive regulatory credits; and energy generation and storage, which includes the design, manufacture, installation, sales, and leasing of solar energy generation and energy storage products, services related to such products, and sales of solar energy system incentives.
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