Hello and welcome to the Friday May 3rd 2019 edition of Tesla Daily on Official Tesla Podcast. My name is Rob Maower. Today we're talking

a little bit more about the capital raise from yesterday. We have a little bit more information

today. In fact, just as I started recording, Tesla has filed a new prospectus for each of the convertible notes

and the Common Stock Equity offering.

On the Common Stock, Tesla has increased that offering from yesterday's proposed 2.7 million shares to about 3.1 million shares of common stock.

The underwriters also have the option to purchase up to an additional 463,000 shares. The offering will be at $242,000 shares.

The offering will be at $243 per share,

which means the range of financing here

could be from 750 million all the way up to 862 million dollars if the additional

shares are sold as well which I would expect to be the case. On the convertible note

offering Tesla is now offering a 1.6 billion with the option to increase to

1.84 billion dollars if there is over allotment on the convertible note demand.

So yesterday the offering was for 2 billion to 2.3 billion dollars given

Tesla's 15% over allotment statement. Now today with the more finalized

prospectus terms Tesla is now offering somewhere between $2.35 billion and $2.7 billion.

And again, I would expect the offering to be oversubscribed and Tesla to get that full 2.7 billion.

Coming off of the 2.2 billion dollars that Tesla had at the end of Q1,

that should put Tesla's cash position right under 5 billion dollars. The other nice thing about the convertible notes is that they will be offered at a 2% annual

interest rate.

And remember, these come due in 2024, so five years from now.

I believe the last convertible notes that Tesla offered

was back in May of 2017. At that time, they offered about a billion dollars for

...