Tesla Plans $5 Billion Share Sale ON Record Run To S&P Debut

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Tesla Inc.  (TSLA) – Get Report slipped from its record high Tuesday after the clean-energy carmaker said it would sell around $5 billion worth of shares as it prepares for its S&P 500 debut later this month.

Tesla unveiled the ‘at-the-market’ offering in a Securities and Exchange Commission that followed data from the China Passenger Car Association showed Tesla shifting 21,604 China-made vehicles last month, nearly double the October total and well ahead of the 11,329 sold in September, thanks in part to a resurgence in consumer demand from the COVID-hit economy.

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