Tesla is hosting a lottery for its battery presentation and shareholder meeting next month

• Tesla's postponed annual meeting and "battery day" presentation is set for September 22.
• Both events will be livestreamed online, with a select few investors being chosen to attend in-person.
• Shareholders can apply to be picked at random in order to attend.

Tesla investors hoping to see Elon Musk's annual shareholder presentation and the coinciding "battery day" events on September 22 will have to try their luck in a lottery thanks to pandemic restrictions on large events in California.

Both events will be live-streamed to the public, Tesla said, but the company "believes that the best stockholder experience is a fully in-person annual meeting open to all stockholders," it said in an updated regulatory filing Monday. "Continuing public health and travel-related requirements and advisories have necessitated a unique format for the 2020 Annual Meeting."

Tesla did not say how many people will be chosen to attend in-person from the random drawing. The Centers for Disease Control does not have specific capacity guidance on event attendance. Alameda County, with which Musk sparred over Tesla's factory closure in May, currently advises for "no public or private gathering of individuals who are not members of the same household."

Tesla says the meeting will have "robust health control measures," including "screening protocols to protect our attendees and personnel."

At the shareholder meeting portion of the event, investors will vote on up to seven proposals. Most importantly, they'll vote on whether to re-elect or confirm three directors to the company's board: Musk, chairwoman Robyn Denholm, and Hiromichi Mizuno, the newest appointed member. Shareholders will also vote to approve Musk's executive pay package and Tesla's audit accounting firm, standard fodder for publicly traded companies.

Four other proposals, including a push for Tesla to buy more traditional advertising, may also be voted on by investors, but aren't supported by the company.

The battery presentation is where any new developments will likely come. There's been little info from Musk about what to expect, and analysts expect new technology developments related to Tesla's energy storage and vehicle powertrain products.

"The real limitation on Tesla growth is cell production at an affordable price," Musk told investors on a July call. "That's the real limit. So that's why we're going to talk about a lot more about this on Battery Day because this is a fundamental scaling constraint … We expect to expand our business with Panasonic, with CATL, with LG, possibly with others. And there's a lot more to say on that front on Battery Day."

With Tesla's stock price continuing to soar to record highs, analysts expect the event to be yet another catalyst for even more gains.

"In our opinion this battery technology will be very advanced, potentially last for decades, withstand all types of weather/terrain, and be another major milestone for the Tesla ecosystem," Daniel Ives, an analyst at Wedbush, told clients Sunday.

"In theory this battery will support an electric vehicle for 1 million miles and be a major step forward when competing vs. traditional gasoline powered automotive competitors from both an ROI and environmental perspective," he continued.