Chief Executive Officer Elon Musk will buy up to $10 million in
shares, while board member and Oracle co-founder Larry Ellison
will purchase $1 million worth Tesla shares.
The underwriters will get an option to buy up to $300 million in
additional shares.
The electric-car maker said it plans to use the proceeds from
the offering to strengthen its balance sheet and for general
corporate purposes.
Goldman Sachs and Morgan Stanley are the lead joint book-running
managers. Barclays, BofA Securities, Citigroup, Credit Suisse,
Deutsche Bank Securities and Wells Fargo Securities are the
additional book-running managers. Societe Generale is the acting
co-manager.
(Reporting by Supantha Mukherjee in Bengaluru; Editing by
Saumyadeb Chakrabarty)
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