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Yahoo BusinessFeb 15, 2020
Xi says China must keep economic, social order while battling coronavirus
(Bloomberg) -- Tesla Inc. investors who got in on Thursday's share sale received the steepest discount the electric-car maker has offered in its 10-year history as a public company.Tesla's $2 billion secondary offering priced at $767 per share, 4.60% below Thursday's closing price. That discount is over 10 times larger than Tesla's last secondary offering in May, and quintuples the average discount given across its seven prior share sales.Read more: Tesla Money Raise Keeps $14 Billion Virtuous Circle RollingAn 83% run-up this year before the offering launched might have contributed to the more buyer-friendly pricing terms, not to mention fresh regulatory scrutiny. But Elon Musk probably isn't losing any sleep over the matter, as the price per share was still more than double any of the company's prior equity raises.Six of Tesla's previous secondary offerings -- conducted between 2011 and 2019 -- priced at discounts below 1.0%. The bullish bidding helped Tesla fuel a decade of unparalleled price appreciation.Shares fell 3% in pre-market trading to about $780, above Thursday's offering price.To contact the reporter on this story: Drew Singer in New York at dsinger28@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Courtney DentchFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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