Tesla plans to raise $2 billion after bumpy first quarter, and Elon Musk is buying in

Tesla Chief Executive Elon Musk speaks at the company's design studio in Hawthorne on March 14.

The electric-car maker filed Thursday to sell $1.35 billion in notes and about $650 million in shares. Tesla stock, which has plunged 30% this year, surged as much as 5.9% in premarket trading, and its bonds rallied.“We view this as a clear net positive for Tesla,” Dan Ives, an analyst at Wedbush Securities, said in a note. The company needed to “take its medicine and clear the air of the very real investor worries.

Musk, 47, will participate in the offering by buying as much as $10 million in stock. Tesla hired Goldman Sachs Group Inc., Citigroup Inc., Bank of America Corp., Deutsche Bank AG, Morgan Stanley, Credit Suisse Group AG, Societe Generale SA and Wells Fargo & Co. to underwrite the share offering, according to the filing.

Tesla’s 5.3% bonds due 2025 were the best performer in the high-yield market early Thursday, rising more than 2 cents on the dollar to 88.063 cents, according to Trace.

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Elon Musk, SEC settle legal fight over his tweets about TeslaTesla Inc.’s chief executive and the U.S. Securities and Exchange Commission said in a court filing Friday that they are settling a legal dispute over how Musk posts news about his electric-car company. THESE LIBERALS ARE GOOD TRYING TO SHUTTING DOWN FREEDOM OF SPEECH. LOL. EVEN ELON MUSK IS VICTIM OF THIS.
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