Tesla IPO – Coming June 29th
The long awaited Tesla Motors initial public offering has been set for June 29th with 11.1 million shares up for grabs at a price of $14 to $16 per share, the total revenue from the sale will be up around $178 million USD. Tesla has not yet turned a profit and is not expected to until the second year of production of the Tesla Model S sedan, in 2013. In spite of that the heat surrounding this company is blistering and with deals in place with both Toyota and Daimler it is safe to say that Tesla isn’t an automotive flash in the pan.
The shares will be offered under the name TSLA and will be listed on the NASDAQ, Tesla also reiterated its plans for a 3rd electric vehicle to accompany the Roadster and Model S, this 3rd model will be far more affordable and Tesla expect to produce the car in far larger volumes.
“We intend to offer this vehicle at a lower price point and expect to produce it at higher volumes than our planned Model S,” the company said. “We expect that this vehicle will be produced a few years after the introduction of the Model S.”
Will you be buying TSLA shares? We are hoping to pick some up, if for no reason other than to put our money where our mouth is.