With a starting price at $17 a share—opposed to the $14–16 originally planned—and an increase in the number of shares offered from 11.1 million to 13.3 million, Tesla Motors initial public offering raised more than $200 million for the electric-car company, enough to keep it viable for the next two years. The increases show that Tesla believed it would have a strong investor backing its first day on the NASDAQ exchange.
The company went on to do well its first day of public trading, rising to $19 by midday Tuesday and closing at $23.89 for a 40 percent gain.
[via New York Times]
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