Tesla to sell stock again to fund model lineup

5/26/2011

DETROIT — Electric car start-up Tesla Motors Inc. will sell common stock again, with hopes of raising $214 million to expand its limited model lineup.

The company plans to sell 5.3 million shares to the public and up to 795,000 more to the underwriter, at about $26 each, according to a regulatory filing Wednesday. The sale follows its initial public offering from a year ago, when its stock was offered at $17.