Tesla Motors Files S-1 To Go Public
In brief: On Friday, Tesla Motors filed form S-1 with the Securities and Exchange Commission for a proposed public offering.
Tesla filed with the intent to issue stock "as soon as practicable" and could raise as much as $100 million in with the opening of their IPO.
The rumor we reported in November appears to have been true and Tesla's filing comes just a week after closing the deal with the Department of Energy on a $465 million loan.
Other notes of merit in the filing are regarding Tesla Motors' financials with the company stating they've lost approximately $236.4 million since inception to Sept. 30, 2009. They also note that profitability depends on the acceptance and roll-out of the Model S and growing public interest in electric vehicles.
Of course, Tesla posted profit in July last year, after six years of money loss - normal with any startup in this sector.
Another interesting note: your Roadster may become a collectible as Tesla plans to stop production on the Lotus conversion in 2011.
And so ...
Of further note is Tesla's statement that profitability will not be viable without the mass production of the Model S, though actual numbers needed per annum were not given.
Photo credits: Tesla Motors
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