Tesla to Price Secondary Share Offering at $767: Report

Elon Musk’s electric vehicle maker Tesla Inc. plans to price its secondary stock offering at $767 a share, according to a published report late Thursday. The company said earlier Thursday that it will raise $2 billion by issuing new common stock, less than two weeks after Musk, its founder and CEO , said it “didn’t make sense” to raise money. Tesla said it will use the cash to shore up its balance sheet, as well as for “general corporate purposes.” Tesla said Musk will take up around $10 million worth of stock from the sale, while board member Larry Ellison will purchase $1 million.