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upstart writes in with an IRC submission:

Tesla will cash in on surging stock price with $5 billion stock sale:

Tesla will sell up to $5 billion in new shares, the company announced in a Tuesday filing with the Securities and Exchange Commission. The company didn't give any specific timeline for completing the stock sale.

The announcement comes one day after Tesla completed a five-for-one stock split that sent Tesla's stock soaring. When Tesla announced the split on August 11, Tesla's stock was worth less than $1,400. Investors reacted enthusiastically, pushing the stock up 60 percent to over $2,200 over the following three weeks.

Since the split took effect on Monday, the stock has surged even higher and is now worth $480—$2,400 in pre-split terms.

The stock's high price means that Tesla can raise a lot of cash by issuing a comparatively small number of shares. Tesla announced its last fundraising round of $2 billion in February when the stock was worth less than $800—$160 in post-split terms. With the stock now at roughly triple that value, Tesla will likely be able to raise $5 billion while giving up a smaller share of the company to new shareholders.

Original Submission