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Elon Musk reveals plan to streamline the Model 3 delivery process

In terms of the common stock offering, it was priced at $262 and Tesla ended up selling 1.33 million shares, compared to the 969,000 it initially planned to sell.

Tesla said it would offer $250 million of common stock and $750 million of convertible senior notes due in 2022 in concurrent underwritten registered public offerings. We will know within 30 days whether the underwriters decide to exercise their options to purchase, which would net Tesla an additional ~$180M.

Electric-vehicle maker Tesla Inc. has scooped up $1.2bn in a capital raising of common shares and convertible debt, as it nears the launch of its Model 3 sedan.

The company plans to begin production of its Model 3 sedan in July, and that vehicle is expected to start at around $35,000, before tax credits or incentives.

"L$3 iquidity and cash burn remain key near-term risks, and investors may grow tired of continued raises as this is the second capital raise in a year", Langan argued.

The company is offering Dollars 250 million of common stock and USD 750 million of convertible senior notes due in 2022.

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Tesla has begun sending emails to potential buyers cautioning them of the change.

Worth noting, analysts have been expecting this move from Tesla for about a year now.

While it is hard to tell exactly why Tesla is discontinuing the software-limited version of the Model S, the company has made it clear that the main priority across the company is delivering Model 3 on time, at quality. This capital raise is meant to "de-risk" the company's financial condition as they focus on getting the Model 3 into production this year.

It may be reassuring to see Tesla working on new plans to maximize its delivery and production, so that the Model 3 can reach consumers timely. Elon Musk meanwhile, the company's CEO, still holds a majority share of the company at about 21 percent.

Beyond that, the lower starting price point of the 60 kWh versions could compete with and cannibalize sales of the much anticipated, high-volume Model 3.

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