Tesla Motors, Inc. announced its initial public offering of 13,300,000 shares of its common stock at a price to the public of $17.00 per share. The sharesbegan trading on June 29, 2010 on the NASDAQ Global Select Market under the ticker symbol "TSLA."
Of the shares in the offering, 11,880,600 shares are being offered by the company and 1,419,400 shares are being offered by selling stockholders. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional aggregate of 1,995,000 shares of common stock to cover over-allotments, if any. Tesla will not receive any proceeds from the sale of shares by the selling stockholders.
Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities are acting as the joint book-running managers for the offering.