Date: 8 months ago   Category: Hi-Tech

Mask has decided not to redeem shares of Tesla from the exchange after communication with investors

"Shareholders would support us, but the mood at them was in good spirits "Please, don't do it"", - the head of Tesla has explained.

the Head of Tesla Elon Musk declared that he has refused the idea to transfer Tesla to the status of the private company and to redeem her shares from the exchange. According to him, this decision which has caused several scandals wasn't pleasant to investors. I have communicated to shareholders and it has turned out that most of them consider that Tesla is better to remain the public company. Besides, some institutional investors were explained that they have restrictions for investments in the private companies. Also now there is no accurate way which would allow most of private investors to remain among shareholders.

In spite of the fact that most of shareholders with whom I communicated would remain with Tesla in case of leaving from the exchange, the general mood at them was in good spirits "Please, don't do it".

However, my confidence that we can receive financing, sufficient for repayment of Tesla from the exchange, has only amplified.

Elon Musk
the head of Tesla Also Musk has explained that process of redemption of stocks from the exchange in reality would be more difficult, than it seemed earlier, and it is better for company to focus on release of the "budgetary" Model 3 and receiving profit. According to him, the board of directors of the company has approved this decision.

Discussion of leaving of Tesla from the exchange has begun on August 7 - then Musk has written to Twitter that he has thought of redemption of stocks of the company at the price of $420 for piece (about 20% more, than they bargained at that time), and financing is already provided. Later he explained to

the words twice: it has turned out that the Sovereign fund of welfare of Saudi Arabia was ready to provide financing, and though final agreements haven't been signed, Musk had a full confidence in support of fund. By means of a tweet he wanted to tell about news to all investors instead of private communication with the largest of them at once. after that the U.S. Securities and Exchange Commission has begun with

investigation of the message of Musk as it could cause damage to investors and contain unconfirmed information. Also two shareholders of the company who played on decline in the rate of stocks of the company have filed a lawsuit against the head of Tesla and have lost "hundreds of millions dollars" on growth of a course after Musk's announcement of possible leaving from the exchange. on August 16 the The New York Times newspaper has told

that some board members are concerned about Musk's condition and a situation in Tesla, and now the company thinks of hiring of the co-director of the company which would help with business management. Musk has told the newspaper that because of very difficult year in Tesla he is very exhausted, works for 120 hours a week and practically doesn't sleep.



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