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Tesla to exchange certain notes for about $395 million in shares
June 1, 2017 / 1:25 PM / 6 months ago

Tesla to exchange certain notes for about $395 million in shares

(Reuters) - Tesla Inc said it entered into agreements with the holders of some of its notes with principal amount of about $144.8 million to exchange 1.16 million of the company’s shares.

The Tesla corporate logo is pictured at a Tesla electric car dealership in Sydney, Australia, May 31, 2017. REUTERS/Jason Reed

As of Tesla’s closing price on Wednesday, the shares would be valued at nearly $395 million.

The electric luxury carmaker’s shares were marginally higher in premarket trading.

Reporting by Narottam Medhora in Bengaluru; Editing by Arun Koyyur

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