From Tesla, August 24: Staying Populace (Tsla)

From Tesla's blog:

Elon Musk August 24, 2018

Earlier this month, I announced that I was considering taking Tesla private. As purpose of the process, it was of import to empathise whether our electrical flow investors believed this would survive a goodness strategic movement as well as whether they would desire to participate inwards a mortal Tesla.

Our investors are extremely of import to me. Almost all own got stuck amongst us from the fourth dimension nosotros went world inwards 2010 when nosotros had no cars inwards production as well as exclusively a vision of what nosotros wanted to be. They believe strongly inwards our mission to advance sustainable unloose energy as well as assist deeply nearly our success.
I worked amongst Silver Lake, Goldman Sachs as well as Morgan Stanley, who own got world-class expertise inwards these matters, to see the many factors that would come upwards into play inwards taking Tesla private, as well as to procedure all the incoming involvement that nosotros received from investors to fund a go-private transaction. I too spent considerable fourth dimension listening to electrical flow shareholders, large as well as small, to empathise what they mean value would survive inwards the best long-term interests of Tesla.

Based on all the discussions that own got taken house over the final brace of weeks as well as a thorough consideration of what is best for the company, a few things are clear to me:

• Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe nosotros are ameliorate off equally a world company. Additionally, a number of institutional shareholders own got explained that they own got internal compliance issues that trammel how much they tin invest inwards a mortal company. There is too no proven path for most retail investors to ain shares if nosotros were private. Although the bulk of shareholders I spoke to said they would remain amongst Tesla if nosotros went private, the sentiment, inwards a nutshell, was “please don’t produce this.”
• I knew the procedure of going mortal would survive challenging, merely it’s clear that it would survive fifty-fifty to a greater extent than time-consuming as well as distracting than initially anticipated. This is a work because nosotros absolutely must remain focused on ramping Model iii as well as becoming profitable. We volition non accomplish our mission of advancing sustainable unloose energy unless nosotros are too financially sustainable.
• That said, my belief that at that spot is to a greater extent than than plenty funding to own got Tesla mortal was reinforced during this process.

After considering all of these factors, I met amongst Tesla’s Board of Directors yesterday as well as allow them know that I believe the ameliorate path is for Tesla to remain public. The Board indicated that they agree....

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