Tesla 2011 Annual Report Download - page 75
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Table of Contents
Use of Proceeds
Our IPO of common stock was effected through a Registration Statement on Form S-1 (File No. 333-164593) that was declared effective
by the Securities and Exchange Commission on June 28, 2010, which registered an aggregate of 15,295,000 shares of our common stock,
including 1,995,000 shares that the underwriters had the option to purchase. On July 2, 2010, 11,880,600 shares of common stock were sold on
our behalf and 3,414,400 shares of common stock were sold on behalf of the selling stockholders, including 1,995,000 shares sold by the selling
stockholders upon exercise in full of the underwriters’ option to purchase additional shares, at an IPO price of $17.00 per share, for an aggregate
gross offering price of $201,970,200 to us, and $58,044,800 to the selling stockholders. The underwriters of the offering were Goldman, Sachs &
Co., Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. Following the sale of the shares in
connection with the closing of the IPO, the offering terminated.
We paid to the underwriters underwriting discounts and commissions totaling approximately $13.1 million in connection with the offering.
In addition, we incurred additional costs of approximately $4.4 million in connection with the offering, which when added to the underwriting
discounts and commissions paid by us, amounts to total fees and costs of approximately $17.5 million. Thus, the net offering proceeds to us,
after deducting underwriting discounts and commissions and offering costs, were approximately $184.5 million. No offering costs were paid
directly or indirectly to any of our directors or officers (or their associates) or persons owning ten percent or more of any class of our equity
securities or to any other affiliates, other than reimbursement of legal expenses for selling stockholders.
There was no material change in the use of proceeds from our initial public offering as described in our final prospectus filed with the SEC
pursuant to Rule 424(b). From the effective date of the registration statement through December 31, 2010, we have used the net proceeds of the
offering for working capital purposes, including expenditures for inventory, personnel costs, equipment and other operating expenses.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
None.
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