Deals
Tesla Motors Increases Electric Car IPO Size by 20%
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Tesla Motors Inc., the electric sports-car company that’s attempting the first initial public offering by a U.S. automaker in a half-century, increased the size of its IPO by 20 percent.
The maker of the $109,000 electric Roadster bought by Brad Pitt and George Clooney will now offer 13.3 million shares at $14 to $16 each, up from an earlier plan to sell 11.1 million, a filing with the Securities and Exchange Commission showed. Existing shareholders including Chief Executive Officer Elon Musk will offer 1.42 million instead of 1.1 million.