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Tesla to Sell up to $5 Billion of Shares After Stock Surge

September 1, 2020


Tesla Inc. plans to sell as much as $5 billion of shares, capitalizing on its high-flying price and on a recent stock split that made it more accessible to individual investors.

The Palo Alto, Calif.-based carmaker will sell the shares “from time to time” through an agreement with several banks, according to a regulatory filing. It plans to use the proceeds to strengthen its balance sheet and for general corporate purposes.

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