Tesla’s $5 Billion Common Stock Offering

Simpson Thacher represented the Agents in the offering.

Tesla, Inc.’s (“Tesla”) completed the sale of approximately $5 billion of its common stock through an at-the-market offering.

Goldman Sachs & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, SG Americas Securities, LLC, Wells Fargo Securities, LLC and BNP Paribas Securities Corp., among others, acted as Agents for the offering.

Tesla intends to use the net proceeds from the offering to strengthen its balance sheet, as well as for general corporate purposes.

Tesla’s mission is to accelerate the world’s transition to sustainable energy. California-based Tesla designs, develops, manufactures, leases and sells high-performance fully electric vehicles, solar energy generation systems and energy storage products.

The Simpson Thacher team advising the Agents included Kevin Kennedy (Picture), Dan Webb, Ryan Coombs, Jesse Feng and William Perrone (Capital Markets); John Creed and Suzy Yaster (Tax); and Jennie Getsin and Andrew Pagliughi (FINRA).

Involved fees earner: Ryan Coombs – Simpson Thacher & Bartlett; John Creed – Simpson Thacher & Bartlett; Jesse Feng – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Kevin Kennedy – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; William Perrone – Simpson Thacher & Bartlett; Daniel Webb – Simpson Thacher & Bartlett; Susan Yaster – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of America Securities; BNP Paribas Securities; Citigroup Global Markets Ltd; Credit Suisse Securities (USA) LLC; Goldman Sachs & Co.; Morgan Stanley; SG Americas Securities LLC; Wells Fargo Securities;

Author: Ambrogio Visconti