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Tesla just announced it's raising more than $1 billion in capital ahead of the Model 3 launch

Danielle MuoioMar 16, 2017, 02:23 IST

Elon Musk.AP Photo/Rich Pedroncelli

Tesla plans to raise $1.1 billion in a series of offerings it announced in an SEC filing on Wednesday.

The automaker announced it will offer roughly $250 million in common stock offerings and $750 million convertible senior notes that are due in 2022.

This story is developing.

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