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Luxury electric car company Tesla plans to raise $100 million by offering some of its equity to public shareholders. The small auto firm filed with the SEC in preparation for raising the money
The SEC document paints a picture of a company that needs money quickly. Tesla’s accumulate deficit through September 30 of last year was $236 million. Tesla lost $32 million in the first three quarters of 2009. The company had only $106 million in cash at the end of September.
Telsa’s other important source of funds is from the Department of Energy which has given the firm a $465 million loan to build its Model S roadster. Taxpayers have a piece of Tesla just as they do GM and Chrysler
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