Tesla Inc. TSLA, -1.96% on Thursday filed for an offering of common stock and convertible notes, stating that Chief Executive Elon Musk has indicated his preliminary interest in some of the shares. The stock was up more than 3% in premarket trading on heavy volume. Tesla disclosed that it planned to offer 2.7 million shares of its common stock, while Musk had expressed interest in purchasing up to 41,896 of these shares for $10 million. The company also said it planned to offer $1.
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Apparently the 'cash flow is king' sentiment has not filtered down to Musk & Tesla as of yet.
Dilution, dilution