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Tesla Files for IPO

Electric sports carmaker Tesla Motors, Inc. plans to sell up to an estimated $100 million in an initial public offering, according to a filing with the Securities and Exchange Commission.

Tesla has sold 937 Tesla Roadsters, the electric sportscar the company developed, to through Dec. 31, the company said in its filing.

On Jan. 21, the company signed a $465 million loan arrangement agreement with the Department of Energy. Not surprisingly, Tesla has not been profitable.

“Since inception through September 30, 2009, we have generated $108.2 million in revenue,” Tesla said in its filing. “As of September 30, 2009, we had an accumulated deficit of $236.4 million and had experienced net losses of $30.0 million for the year ended December 31, 2006, $78.2 million for the year ended December 31, 2007, $82.8 million for the year ended December 31, 2008, and $31.5 million for the nine months ended September 30, 2009.”

Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities are acting as the joint book-running managers for the offering.

Jan 30, 2010Blagojce Krivevski
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Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

January 30, 2010 Electric Car Newstesla, tesla motors, tesla roadster
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