May 8, 2019 / 11:22 AM / 2 months ago

Tesla closes $2.7 billion mixed offering of shares, debt

FILE PHOTO: A Tesla logo is seen in Los Angeles, California U.S. January 12, 2018. REUTERS/Lucy Nicholson/File Photo

(Reuters) - Tesla Inc said on Wednesday it closed its $2.7 billion offering of stock and convertible notes and that it was over-subscribed, giving the electric carmaker much needed cash as it ramps up production.

Tesla sold about $860 million in shares and $1.84 billion in debt, after the underwriters exercised their option to buy 15 percent in each offering.

Shares of the company were down 0.8 percent at $245.20 in trading before the bell.

Reporting by Supantha Mukherjee in Bengaluru; Editing by Bernard Orr

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