- Julia La Roche for Business Insider
Tesla just announced a $2 billion stock offering – and it’s great news for Morgan Stanley and Goldman Sachs.
The two banks are acting as lead joint book runners on the offering, according to a statement.
Deutsche Bank, Citibank, and Bank of America Merrill Lynch will act as additionalbook-running managers.
Tesla is offering about $1.4 billion of shares, according to the press release.
CEO Elon Musk is selling the remaining shares.
The deal is the fifth-largest equity-capital markets transaction in the US in 2016, after TransCanada, ArcelorMittal, Molson Coors, and Baxalta.
Goldman Sachs analysts on Wednesday issued a “buy” rating on Tesla’s stock, leading to a jump in its price.