LAST UPDATE: 01/31/10 - DATE VIEWED:
09/07/2010
SUBTITLE:
BASIC INFO:
Electric car manufacturer Tesla Motors Inc. said Friday it plans to sell stock to the public.
The company, based in Palo Alto, Calif., did not disclose in a filing with the Securities and Exchange Commission specifically how much it plans to raise though it listed $100 million as a placeholder figure. The actual amount it raises could be higher.
Tesla also did not give a date for when it plans to launch the IPO, nor did it say how many shares it would sell or at what price.
A Tesla IPO has been widely anticipated. The company has garnered attention for its high-end Roadster, an all-electric sports car that retails for $109,000.
The two-door Roadster is the only model Tesla currently sells, but the company plans to start selling a four-door sedan, the Model S, in 2012. The Model S is slated to go for $49,900 when including a federal tax credit. That car is designed to travel as far as 300 miles on a three- to five-hour charge.
The company has not been profitable. Since its founding in 2003, it has lost $236.4 million, according to its filing. During the first nine months of 2009, it lost $31.5 million. The company said it has $106.5 million in cash as of Sept. 30.
|
Log in to Read this Entire News Article
Click Here to View this topic's website:
|
Log in to Respond to this News Article
|
