Tesla Motors is looking for history to repeat itself.
The luxury electric-vehicle maker, which raised $226 million in its June 2010 initial public offering, is looking to raise another $225 million in equity through an additional stock offering.
Last Friday, Tesla said it priced 6.93 million shares at $28.25 each and is offering another 30-day option to its underwriter for an additional 1.04 million shares. Tesla co-founder Elon Musk will also buy as many as 35,398 shares in the company, whose stock was trading at about $29 a share as of Monday morning.
Tesla, which also has received a $465 million credit line from the U.S. Department of Energy, recently said it’s being asked to speed up repayment of that loan starting later this year.
Last week, the company cut its 2012 revenue forecast by about $160 million to as much as $440 million because of production delays for its Model S sedan. The company has not yet made a profit. Check out Tesla’s press release on the stock offering below.
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By Danny King