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Tesla IPO, would you?

 
Old 03-05-2019, 01:29 PM
  #361  
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Originally Posted by AZuser View Post
Musk hoping for a nice cash infusion after Friday's $920 million debt payment?

Reveal and start taking $1,000 reservation deposits for Model Y on March 14.

That gives them ~17 days until end of their Q1 2019 quarter.

For Model 3, Tesla reported receiving 500,000 pre-orders with $1,000 deposits in 5 days and was averaging over 1,800 reservations per day after that.

If Tesla gets that many Model Y reservations, that's easily $500 million+ going into their coffers
Probably not he pretty much called it almost a year ago



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Old 03-11-2019, 09:37 AM
  #362  
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https://www.wsj.com/articles/tesla-i...en-11552300717

Tesla, in Reversal, to Keep More Stores Open

March 11, 2019

Tesla Inc. said it would raise prices on a few of its electric vehicle models as the company changes some of its plans to close its stores in a shift to selling online only.

The company said it had already closed 10% of its shops following last month’s announcement that it would shutter many of its stores.

However, the company said Monday it would reopen a few high-visibility locations though with a smaller number of employees. An additional 20% of store locations are under review. Tesla had 378 stores and services centers globally at the end of last year.

Tesla’s decision to keep some of its stores open has prompted the company to raise its vehicle prices by about 3% on average world-wide, the company said in a blog post filed with the Securities and Exchange Commission Monday. There won’t be a price increase to its Model 3, though more expensive variants of the model, as well as its Model S and X vehicles will see a price bump.

Though it will keep some of its stores open, Tesla said all sales will still be done online, with the physical locations serving as a showcase of its vehicles.

In a February securities filing, Tesla said it has “various non-cancellable operating lease agreements,” and any effort by the company to terminate those leases could result in legal battles. The company has total lease obligations of $1.6 billion, with $1.1 billion due between this year and 2023, according to its securities filings.
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Old 03-11-2019, 07:00 PM
  #363  
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Prices for new vehicles going up 3%.
https://markets.businessinsider.com/...age-1028017985
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Old 03-11-2019, 11:52 PM
  #364  
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Old 03-12-2019, 01:24 AM
  #365  
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https://www.wsj.com/articles/teslas-...pt-11552357175

Tesla’s Elon Musk Rebuts SEC’s Motion to Hold Him in Contempt

March 11, 2019

Tesla Inc. Chief Executive Elon Musk on Monday pushed back against regulators, telling a federal judge he didn’t violate a fraud settlement that restricted his social-media communications and suggested the government is trying to muzzle him.

In a filing made late Monday, Mr. Musk’s lawyers said the Securities and Exchange Commission hasn’t shown that his tweet on Feb. 19 was material, while the federal agency is overreaching by suggesting he needs prior approval for any statement that relates to Tesla.

The SEC in February said a tweet by Mr. Musk violated a condition of his 2018 enforcement settlement. In that case, Mr. Musk and Tesla agreed to pay $20 million each over claims that he tweeted misleading information about taking Tesla private.

Under the settlement, Mr. Musk was supposed to have a social-media monitor preapprove any tweets that could affect the company’s stock. But a message he sent on Feb. 19 about 2019 production volumes wasn’t reviewed, according to the SEC and a company lawyer.

The SEC as a result sought to hold Mr. Musk in contempt of court, a move aimed at compelling him to fully comply with the settlement terms.

The offending tweet was sent on Feb. 19, when Mr. Musk talked about Tesla’s anticipated production levels for 2019. The SEC said the tweet contained new information that could be material to shareholders and hadn’t been reviewed by Tesla’s lawyers, in violation of the court’s order.

Mr. Musk’s message said that Tesla made zero cars in 2011 “but will make around 500K in 2019.” Hours later, working with an in-house lawyer, he posted another message that said he “meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.”

A lawyer for Tesla previously acknowledged the first tweet wasn’t given prior approval. The attorney, Bradley Bondi, argued that Mr. Musk believed such a review wasn’t necessary because similar figures were part of the company’s Jan. 30 earnings update, according to court records.

In their filing Monday, Mr. Musk’s legal team, led by California attorney John Hueston, told the court that Tesla and its CEO had complied with the oversight policy by reviewing his tweet and providing some context and clarity for it.

The lawyers also told the court that his tweet simply repeated information that Mr. Musk made in an earnings call and that Tesla itself included in its 2018 annual report, which was issued the same day he tweeted.

“The tweet was simply Musk’s shorthand gloss on and entirely consistent with prior public disclosures detailing Tesla’s anticipated production volume,” Mr. Musk’s lawyers wrote. “Moreover, it is clear from the context of the tweet that it was celebratory and forward-looking—a type of statement that courts have concluded is immaterial as a matter of law.”

Mr. Musk’s lawyers argued that the CEO has “diligently attempted to comply” with the SEC’s order, while noting he cut his average monthly Tesla-related tweets by nearly half in the three months following the settlement.

U.S. District Judge Alison Nathan must first decide whether to hold him in contempt for violating the settlement. The SEC hasn’t proposed what kind of punishment he should face if Judge Nathan determines he should be held in contempt.
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Old 03-12-2019, 12:46 PM
  #366  
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The lawyers also told the court that his tweet simply repeated information that Mr. Musk made in an earnings call and that Tesla itself included in its 2018 annual report, which was issued the same day he tweeted.

“The tweet was simply Musk’s shorthand gloss on and entirely consistent with prior public disclosures detailing Tesla’s anticipated production volume,” Mr. Musk’s lawyers wrote. “Moreover, it is clear from the context of the tweet that it was celebratory and forward-looking—a type of statement that courts have concluded is immaterial as a matter of law.”
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Old 03-12-2019, 12:58 PM
  #367  
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Originally Posted by #1 STUNNA View Post
The lawyers also told the court that his tweet simply repeated information that Mr. Musk made in an earnings call and that Tesla itself included in its 2018 annual report, which was issued the same day he tweeted.

“The tweet was simply Musk’s shorthand gloss on and entirely consistent with prior public disclosures detailing Tesla’s anticipated production volume,” Mr. Musk’s lawyers wrote. “Moreover, it is clear from the context of the tweet that it was celebratory and forward-looking—a type of statement that courts have concluded is immaterial as a matter of law.”
1st tweet contained inaccurate and misleading information.

"will make around 500K in 2019" =/= "annualized production rate at end of 2019 probably around 500k, ie 10k cars/week."

https://www.wsj.com/articles/sec-ask...pt-11551137500

In a series of Twitter messages on Feb. 19 that began as a celebration over Tesla vehicles prepared for shipment to Europe, Mr. Musk noted how the auto maker had seen large growth in recent years. “Tesla made 0 cars in 2011, but will make around 500k in 2019,” he said in one posting at 4:15 p.m. California time.

The suggestion that Tesla would make 500,000 vehicles this year stood in contrast to previous guidance by the company on Jan. 30. In his quarterly shareholder letter, Mr. Musk told investors that Tesla would reach an annualized build rate of 500,000 Model 3s sometime between the fourth quarter and second quarter of next year. Tesla planned to deliver as many as 400,000 in all of 2019.

More than four hours after his tweet on Feb. 19, Mr. Musk clarified in another message, saying, “Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.”

The SEC said in its filing that Mr. Musk “did not seek or receive pre-approval prior to publishing this tweet, which was inaccurate and disseminated to over 24 million people.”
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Old 03-13-2019, 05:31 PM
  #368  
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Originally Posted by AZuser View Post
1st tweet contained inaccurate and misleading information.

"will make around 500K in 2019" =/= "annualized production rate at end of 2019 probably around 500k, ie 10k cars/week."

https://www.wsj.com/articles/sec-ask...pt-11551137500
well then he would have gone over the character limit
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Old 03-15-2019, 10:13 AM
  #369  
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Maxwell Technologies shareholders trying to block sale.

https://www.sec.gov/Archives/edgar/d...925312d425.htm

March 15, 2019

Tender Offer Extension for Acquisition of Maxwell Technologies, Inc.

PALO ALTO, Calif., March 15, 2019 – Tesla, Inc. (NASDAQ: TSLA) today announced that it has extended the expiration of its previously announced offer, through its direct wholly-owned subsidiary Cambria Acquisition Corp., a Delaware corporation, to acquire each outstanding share of common stock of Maxwell Technologies, Inc.

The offer is now scheduled to expire at 11:59 p.m., Eastern time, on April 2, 2019, unless it is further extended or earlier terminated in accordance with the merger agreement. The offer was previously scheduled to expire at 11:59 p.m., Eastern time, on March 19, 2019. All other terms and conditions of the tender offer remain unchanged.

The depositary of the offer has advised that, as of 5:00 p.m., Eastern time, on March 14, 2019, a total of approximately 3,094,515 shares of Maxwell common stock had been validly tendered and not validly withdrawn in the offer.
3,094,515 shares, or about 6.7%, out of the 46.01 million shares outstanding have been tendered so far.
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Old 03-15-2019, 10:19 AM
  #370  
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Originally Posted by AZuser View Post
Musk hoping for a nice cash infusion after Friday's $920 million debt payment?

Reveal and start taking $1,000 reservation deposits for Model Y on March 14.
Tesla wants $2,500 deposits now

https://www.bloomberg.com/news/artic...tart-at-39-000

Elon Musk's Later-Landing Model Y Reignites Concerns About Tesla Cash

March 14, 2019

Elon Musk’s unveiling of a new electric vehicle that Tesla Inc. won’t deliver to customers for another year and a half rekindled concerns about the company’s cash position.

The Model Y crossover the chief executive officer debuted late Thursday in Hawthorne, California, will start being delivered to customers in the fall of next year, later than some analysts anticipated. The company immediately began taking $2,500 pre-orders, a bigger ask than the $1,000 it has charged to reserve a Model 3 sedan.

“More expensive customer deposits for Model Y are likely to reinforce bear concerns about Tesla’s cash,” Toni Sacconaghi, an analyst with Sanford C. Bernstein Co., said in a report Friday. “We expect initial orders to be notably lower than Model 3.”

By showing the Model Y now and yet keeping customers waiting until the second half of next year, Tesla risks undermining momentum for the Model 3
, which catapulted the automaker up the sales charts and helped Musk post back-to-back quarterly profits for the first time. Investors are counting on the Model Y to help the company better meet the demands of consumers who are increasingly ditching sedans for roomier crossovers and SUVs.

“The biggest surprise was Model Y initial shipments will begin in the fall of 2020, a year later than we had anticipated,” Gene Munster, a managing partner of venture capital firm Loup Ventures, wrote after the event. “This timing likely implies the company is postponing the costly Model Y ramp in 2019 to conserve cash.”

The costlier call for Model Y orders relative to Model 3 reservations “suggests Tesla remains in a precarious cash position,” Jeffrey Osborne, an analyst at Cowen & Co. with the equivalent of a sell rating on the shares, wrote in a report. “We remain concerned about the company’s liquidity.”

The Model Y is making its official debut after a rough patch for both Tesla and Musk. In late February, the company announced it would finally offer a $35,000 version of the Model 3, though it linked the ability to do so with a plan to close almost all of its stores and pivot to online-only ordering.

This blindsided employees and investors alike, and Tesla backtracked 10 days later, saying in a blog post that more stores would remain open but vehicle prices would have to rise by about 3 percent on average worldwide.

Tesla ended last year with about $3.7 billion of cash and equivalents, but the company has since had to pay off a $920 million convertible bond. Musk has warned a loss is likely this quarter, and the carmaker has a $566 million note coming due in November.

“The company appears to have to raise cash to meet the November debt payment and working capital needs,”
Loup Ventures’ Munster said. “While this raise would fuel concerns around the company’s prospects and would be negative for shares of TSLA in the near-term, it would put the company on track to bridge the gap between meeting its debt requirements and volume production of Model Y early in 2021.”

Last edited by AZuser; 03-15-2019 at 10:23 AM.
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Old 03-15-2019, 11:27 AM
  #371  
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Old 03-15-2019, 12:41 PM
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Production slated to begin early 2021, riiiiiiiight.

Sounds more like we won't actually start see more than one or two on the road until close to 2022.
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Old 03-19-2019, 11:47 AM
  #373  
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