Simpson Thacher represented the underwriters, led by Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities, in connection with a registered public offering of 3,099,173 shares of common stock of Tesla Motors, Inc. (“Tesla”) that resulted in aggregate gross proceeds to the company of approximately $750 million. Tesla intends to use the net proceeds from the offering to accelerate the growth of its business in the U.S. and internationally, for the development and production of its “Gen III” mass market vehicle, the development of the Tesla Gigafactory and other general corporate purposes.
Tesla’s goal is to accelerate the world’s transition to electric mobility with a full range of increasingly affordable electric cars. California-based Tesla designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components for partners such as Toyota and Daimler.
The Simpson Thacher team for this transaction included Kevin Kennedy, Jean Park, Fred de Albuquerque and Colin Osiecki (Capital Markets); Katharine Moir and Judy Yan (Tax); and Jennie Getsin (FINRA and Blue Sky). Summer Associate Brent Stewart also provided valuable assistance.
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