News

Tesla Motors Plans IPO

Published on January 29, 2010
by John Paczkowski

Add Tesla Motors to the list of companies planning to avail themselves of what may, or may not, be a fledgling IPO recovery this year. The electric car maker said Friday that it’s planning an initial public offering to raise up to $100 million.

Tesla’s S-1 form doesn’t specify the share price or where the stock will be traded. It does, however, note that stock will be issued “as soon as practicable”–whatever that means. A few other details worth noting:

  • Goldman Sachs (GS), Morgan Stanley (MS), J.P. Morgan (JPM) and Deutsche Bank (DB) are listed as underwriters.
  • To date, Tesla has sold 937 Roadsters in 18 countries.
  • Tesla had sales for the first nine months of 2009 of $93.4 million. Losses for that same period were $31.5 million
  • Since its inception, Tesla has had revenue of $108.2 million, with cumulative losses of $236.4 million.

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