Posted by: youngragingbull | May 22, 2013

Tesla pays off government loan

Electric car maker Tesla Motors said late Wednesday it has paid off the entire loan given to the company by the U.S. Department of Energy in 2010. The amount left on the loan had been $451.8 million.

Tesla funded the payment from a $1 billion stock and convertible senior note offering completed last week.

Tesla shares have been surging in recent weeks, gaining a whopping 157% since the start of 2013. Shares edged down 14 cents to $87.10 in after-hours action Wednesday.

Tesla - 6 months stock


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