When Tesla CEO Elon Musk pressed “tweet,” he had to know his ill-timed joke about production numbers would catch the attention of SEC regulators. However, that single Twitter post might now force Tesla to pay nearly $1 billion in cash to settle up with bondholders. Tesla’s Billion-Dollar Debt Load Comes Home to Roost At issue is $920 million worth of convertible bonds that are due Friday, March 1. Today, the holders of the debt will decide if they will convert the debt to equity or receive cash. Short of some miracle, all signs point to bondholders opting for cash rather than
The post Not Funny: Elon Musk’s Twitter Joke Likely to Cost Tesla $460 Million appeared first on CCN
source https://www.ccn.com/not-funny-elon-musk-twitter-joke-likely-to-cost-tesla-460-million
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