- tesla Executive Director Elon Musk has caused controversy over his allegations of acceptance tesla private.
- The questions kept the amount of funding that Musk provided when he first suggested that he needed support to turn Tesla into a private company, with the exception of shareholder voting.
- It is reported that the SEC asks Tesla about the statements made by Musk and the company.
Tesla CEO Elon Musk shocked the observers when he said on August 7 that he was thinking about closing the company. Since then, Musca's comments have seized Wall Street, attracted regulators' attention and raised questions about how closed the company is for blocking the funding needed to enter public markets.
Here's what you need to know in order to catch up:
November 15, 2017: Elon Musk says in an interview with Rolling Stones that he wants Tesla to be a private company.
"I'm sorry that we can not be with Tesla" Musk said in an interview. "It actually makes us less effective to be a public company."
July 31, 2018: Musk claims that he met with the governor of Saudi Arabia on a sovereign wealth fund.
Musk claimed in a statement published in Tesla's website on Monday that on July 31 he met with the managing director of the sovereign fund of Saudi Arabia.
During this meeting Musk argued that the director "Regretted that earlier I had not progressed on a private deal with them, and at present he expressed his support for financing the private deal of Tesla. I understood from him that no other decision makers were needed, and that they were ready to continue. "
"I left the meeting on July 31 without any doubt that the deal with the sovereign fund of Saudi Arabia could be closed, and that this is just a matter of the process's transition," Musk said.
The Saudi sovereign fund did not respond to the request for comments.
August 1, 2018: Tesla reports the second quarter's earnings, fearing that the company ran out of cash.
Tesla reported adjusted loss per share of $ 3.06 for the second quarter, which was more than forecasted by analysts, and revenue of $ 4 billion, which surpassed analysts' forecasts. His burn in cash amounted to 739.5 million dollars. USA, which was lower than expected analysts. The company said that it is expected that it will be profitable in the second half of 2018.
"We go further, we believe that Tesla can achieve steady quarterly profits, without strong force majeure or economic recession, continuing to grow rapidly, the company said in a statement.
During the company's earnings, Musk apologized to Analyst Sanford C. Bernstein & Co. Antonio Sakkagi. During the first earnings of Tesla in May, Musk referred to Sakkonagi's questions, since "Boring" and "slaughtering."
"I would like to apologize for being impolite on the previous call. Honestly, I really think that there is no excuse for bad manners, and I kind of violated my own rule in this regard. There are reasons for this, since I received no sleep, worked 110-hour, 120-hour weeks, but, nevertheless, there is still no justification, "Musk said during the second quarter.
August 2, 2018: Musk claims that he told Tesla's advice that he wants to take a private company of $ 420 per share.
August 13th statement, Musk said that after he first informed the council about his desire to take Tesla privately, the extraordinary directors of the council met without him. Musk said that he later met with them again to talk about the discussions he had about financing the deal with private individuals.
August 7, 2018: Elon Musk sends a "protected protected" tweet.
"I'm considering the possibility of attracting Tesla privately to 420 dollars. Funding is provided ", first Musk said via Twitter, before publishing an official statement on the company's website.
Musk said in a statement that the shareholders' vote should be held before the final decision is made. But he said in that the support of investors has been confirmed,
Taking a private company is "the best way forward," Musk said in a statement. He said that pressure on a public company creates distractions and contributes to short-term thinking, which may not give better solutions in the long term.
In Musk's statements, questions were raised about the confidence in the funding he was referring to, and where exactly it was taken from.
August 7, 2018: Stock jumps reach 12%, closing at $ 379.57.
Tesla share price rose after Musk "financed the secured" tweets, increasing by as much as 12%, to more than $ 381, before settling for $ 379.57, when the auctions closed on August 7.
August 8, 2018: The Council of Tesla publishes a brief statement about the desire of the Mask to take Tesla privately.
Council members Tesla Brad Buss, Robin Denholm, Ira Erenpreis, Antonio Gracias, Linda Johnson Rice and James Murdoch said in a statement on August 8 that Musk started a discussion with them about going private the week before. They said that they had met many times since.
August 8, 2018: The SEC is reportedly requesting Tesla regarding the "secure" tweet of Elon Muska.
According to the publication, the SEC also studied why Musk's first statement about the possibility of attracting Tesla private was made on Twitter, and not in the regulatory documentation. The agency also asked the company if it believed that the tweet of Muska followed the rules of the SEC on the protection of investors, reports The Journal.
August 9, 2018. News breaks on the board of directors are reportedly asking Musk to give up on himself, as he is exploring the possibility of entering into private life.
CNBC It is reported that board is scheduled to meet with financial advisors to determine how he would investigate the idea of turning Tesla into a private company and told Musk that he should consult a separate personal set of consultants.
August 10, 2018. There are reports that Tesla early discusses the issue of funding for private.
10th of August, Bloomberg It is reported that tesla had the discussions with some potential investors and talked with banks about whether he will be able to conclude a deal and what this deal will look like, but she has not yet hired a bank to formally help in this process.
August 10, 2018. Two lawsuits filed against Musk and Tesla refer to securities fraud.
Two Tesla investors filed separate lawsuits accusing Musk in misleading investors and manipulating the company's share price with its statements about the privatization of the company.
August 13, 2018. On Monday morning, Musk reveals new details about why he sent "protected funding".
AT Post a blog on Monday Musk said that he used the phrase "funding is secured" because he believed after the July 31 meeting with the Managing Director of the Saudi Public Investment Fund that "there is no doubt" that the fund will provide support for the deal to turn Tesla into a private company.
He made the announcement via Twitter, he said, because he wanted all Tesla investors to know about the possibility that Tesla would become private at the same time.
August 13, 2018: Azilia Banks says that she was at Muska's house last weekend and that he "picks up for investors".
banks Business Insider that Musk seems to have been worried about getting funding for a potential deal when she was in one of their homes in Los Angeles.
The representative of Muska said that he had never met or communicated with the Banks, but did not deny that the banks remained in one of their houses for the period of time indicated by the Banks.
Tesla refused to comment on the statements of the banks about the attempts of the Mask to find investors.
August 13, 2018. Musk tweets in the evening that he works with Goldman Sachs and Silver Lake as financial advisors on the proposal to take "Private."
"I am very pleased to work with Silver Lake and Goldman Sachs as financial advisors, as well as Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal counsel on the proposal to accept Tesla private," he said. said,
August 13, 2018. The New York Times reports that some board members were blinded by its "secure funding" tweets.
New York Times reported on Monday that the "protected" charity fund Musk surprised board, which, he said, did not approve the tweet. According to The Times, Musk told an informal adviser that he sent a tweet, because it was difficult for him to store information for himself and was upset by the company's critics.
August 13, 2018: Tesla found himself in another lawsuit about fraud with securities.
The complaint was filed on Monday in the US District Court in California approves that some investors bought Tesla shares "at artificially high prices and incurred significant losses and losses after the truth came true" that Musk did not provide the financing necessary to transfer Tesla to a private company for $ 420 per share when he sent his "protected financing "tweets,
August 14, 2018: The Tesla Council forms an ad hoc committee to consider a plan to attract Tesla individuals.
Three independent board members – Brad Busse, Robin Denholm and Linda Johnson Rice – will sit in a special committeeMusk will need the approval of the committee before the deal, which can be taken by Tesla's private person.
August 14, 2018. The fourth lawsuit is filed against Tesla.
Jalopnik reported on Wednesday that against Tesla was filed a fourth lawsuit in which it is alleged that fraud with securities.
According to the US District Court in California Web site, the lawsuit was filed on Tuesday.
August 15, 2018: The SEC is reportedly summoned by Tesla.
Fox Business reporter Charles Gasparino said on Twitter that the sources suggested that the agency had moved to a formal investigation of Tesla. Gasparino also said that SEC officials are concerned about how the agency's investigation can affect Tesla's ability to go for privacy.
August 15, 2018: Goldman Sachs formally signs a contract to advise Musk on his plans to take Tesla as private.
Goldman Sachs said he will "act as a financial adviser in connection with a matter that is fundamental to a reasonable analysis of the rating and the price target for the shares."
The firm also stated that it is suspending the research of Tesla.
August 16, 2018. The Wall Street Journal reports that the SEC is investigating whether Musk is trying to damage short sellers with its "financed protected" tweet.
The Wall Street Journal reported The Securities and Exchange Commission investigated whether Tesla's CEO Elon Musk tried to harm the company's short sellers when he wrote on Twitter about taking up a private company.
According to the report, the agency asked the Tesla board of directors about what Musk told them before he wrote on Twitter that he provided funding for Tesla's transfer to a private company. It was proposed to participate in the voting of shareholders.
August 17, 2018. The New York Times publishes an interview with Elon Musk. Он сказал «Таймс», что не сожалеет о своем «финансируемом» чириканье и сказал, что планирует остаться на посту генерального директора компании.
Он также сказал, что у него нет планов как отставку в качестве председателя и генерального директора, но если кто-то думает, что они могут сделать работу лучше, они «Могут иметь поводья прямо сейчас».
И несмотря на то, что Муск «финансирование обеспечено» чириканье может закончиться тем, что он обошел его и компанию, он сказал, что не пожалел об этом.
17 августа 2018 года: короткие торговцы Тесла, по сообщениям, составляют около 1 миллиарда долларов.
Следуя интервью с Musk's New York Times, цена акций Tesla упал почти на 9%, когда торги закрылись 17 августа, и он упал почти на 1% больше во время торгов после закрытия торгов. Краткосрочные торговцы Tesla составили около 1 миллиарда долларов в тот день, Времена сообщили со ссылкой на данные партнеров S3 аналитической фирмы.
19 августа 2018 года: Мускус защищает свои привычки.
В ответ на комментарии Муска к New York Times о работе до 120 часов в неделю, Арианна Хаффингтон написала, что трудовые привычки Муска были нездоровыми и непродуктивными в должности на Thrive Global который был опубликован 17 августа.
«Вы столкнулись с невероятными проблемами, и вы встретили их, будучи все более строгими и решительными в применении новейшей науки. Но в то же время вы демонстрируете дико устаревший, антинаучный и ужасно неэффективный способ использования энергии человека. Это похоже на попытку запустить нас в наше будущее чистой энергии (или в космос) с помощью угольного парового двигателя. Это просто не сработает », – сказала она wrote,
Мускус ответил ей через Twitter рано утром 19 августа, предполагая, что у него не было выбора, кроме как работать долгие часы.
«Ford & Tesla – единственные 2 американских автомобильные компании, которые избегают банкротства. Я только что вернулся с завода. Вы думаете, что это вариант. Это не так», – сказал он said,
21 августа 2018 года: Морган Стэнли останавливает освещение Теслы.
Морган Стенли прекратил свое исследование от Tesla от 21 августа, шаг, который указывает, что он может работать с Tesla в некотором качестве, поскольку компания исследует возможность перехода на частную. На прошлой неделе, Голдман Сакс перестала покрывать Тесла, заявив, что это "выступая в качестве финансового консультанта в связи с вопросом, который имеет основополагающее значение для разумного анализа рейтинга и цены для акций ».
24 августа 2018 года: Элон Муск объявляет, что Тесла останется открытой компанией.
Генеральный директор Tesla Элон Муск 24 августа объявила, что Тесла останется открытой компанией,
Это завершает то, что было неделими спекуляций и ручных решений вокруг частного предложения Муск впервые показал в твитте 7 августа.
AT сообщение в блоге, опубликованное на веб-сайте Tesla, Муск сказал, что обсуждения с существующими акционерами и финансовыми консультантами показали, что для такого шага мало аппетита.
«Рассмотрев все эти факторы, я вчера встретился с советом директоров Tesla и сообщил им, что считаю, что лучший путь для Теслы остается открытым. Совет указал, что они согласны», – написал Муск.