Simpson Thacher represented Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., BNP Paribas Securities Corp., BofA Securities, Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, SG Americas Securities, LLC and Wells Fargo Securities, LLC, among others, (the “Agents”) in connection with Tesla, Inc.’s (“Tesla”) sale of approximately $5 billion of its common stock through an at-the-market offering.
Simpson Thacher has now acted as counsel for the banks in 17 separate equity, debt and bank financing transactions undertaken by Tesla, including Tesla’s 2010 IPO, representing more than $25 billion in total proceeds.
Tesla intends to use the net proceeds from the offering to strengthen its balance sheet, as well as for general corporate purposes.
Tesla’s mission is to accelerate the world’s transition to sustainable energy. California-based Tesla designs, develops, manufactures, leases and sells high-performance fully electric vehicles, solar energy generation systems and energy storage products.
The Simpson Thacher team included Kevin Kennedy, Dan Webb, Ryan Coombs, Jesse Feng and William Perrone (Capital Markets); John Creed and Suzy Yaster (Tax); and Jennie Getsin (FINRA).