Tesla's tally from stock offering: $738.3 million
Tesla Motors Inc. banked an estimated $738.3 million from a stock offering that closed Wednesday, the electric car manufacturer detailed in a filing. While burning cash fast on the development of two upcoming new car models, a battery-storage offering and a huge battery plant dubbed the "Gigafactory," Tesla sold about 3.1 million fresh shares to raise capital. The final total included more than 400,000 optional shares, indicating strong demand for the stock despite Tesla's free-spending ways. The total does not include the costs of the offering and underwriting fees. Tesla stock fell 2.1% to $255.25 Wednesday, but shares have gained 7.2% since the stock offering was announced last week, on Aug. 13.
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