Tesla offers $2B in added shares, discloses SEC subpoena

By  | 

DETROIT (AP) - Tesla is selling $2 billion worth of additional stock to take advantage of a big jump in its share price.

The company also disclosed that U.S. revenue fell last year and securities regulators are scrutinizing its finances.

All the developments Thursday were disclosed in filings with U.S. securities regulators, which in December subpoenaed financial data and contracts, including details of the the company’s financing arrangements.

Tesla shares jumped almost 4% despite the disclosures and the additional 2.65 million shares that could dilute the value of the 180 million now on the market.

(Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)