Tesla looking to raise $1.15 billion to fund its Model 3
Elon Musk-led electric vehicle maker Tesla is looking to raise about $1.15 billion from stock and debt sale in order to fund the production of its next car Model 3. Musk will be purchasing $25 million of the company's stock. Tesla has had negative cash flow since 2014 and posted a quarterly profit only twice since going public in 2010.