Tesla Is Selling More Shares to Pay Off U.S. Loan

Tesla Motors Inc. is selling more shares, taking advantage of a rapid runup in its stock price to raise more capital and pay off its debts to the federal government.

Tesla said it plans to sell up to 3.1 million new common shares, and offer $450 million worth of notes in public offerings. The company said one use for the new capital will be to pay off, with interest, the balance of a $465 million federal loan from the U.S. Department of Energy.

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