This is neither an offer to sell nor a solicitation of an offer to buy...
I went over some of my reasons for shying away from IPO's when A123 came public in September, 2009.
(priced at $13.50, first day close $20.29, close yesterday $9.88)
I am interested in the VC biz and here earth2tech did a bang-up job:
Tesla Motors, the electric car startup scheduled to launch an IPO on Tuesday, has racked up millions of dollars from a slew of investors since its founding in July 2003. For some of those backers who took a chance on this greentech venture early on, Tesla’s initial public offering could spell “ka-ching.” Here’s the rundown on who among Tesla’s executive directors and officers own what portion of the company, who will and won’t be selling shares at the IPO, according to Tesla’s S-1 filing, and what their stakes will be worth (on paper, at least) if Tesla’s stock trades at $15 per share, the mid-point of the company’s estimate.
Shareholder | Pre-IPO Stake | Shares Being Offered | Value of Offered Shares* |
Elon Musk, CEO, Chairman and Product Architect. Also the CEO, CTO and Chairman of SpaceX, and Chairman of SolarCity. Co-founded PayPal and Zip2. | 28.3M shares (35.62 percent) worth more than $424.5M at $15 apiece. | 909,212 | $13,638,180 |
Herbert Kohler, member of Tesla’s Board of Directors since May 2009. Heads up electric vehicle development for Daimler and serves as VP of Blackstar Investco, owned 60:40 by Daimler and Abu Dhabi’s Aabar Investments. If Musk leaves the CEO post before 2013, his replacement has to beapproved by Kohler under Tesla’s financing agreement with Daimler. | 7.48M shares (9.56 percent) worth more than $112.3M at $15 apiece. | 0 | $0 |
H.E. Ahmed Saif Al Darmaki, member of Tesla’s Board of Directors since September 2009, representing Abu Dhabi’s Al Wahada Capital Investment. Darmaki is Planning & Development Director of the Abu Dhabi Water and Electricity Authority, which invests through Al Wahada. | 7.3M shares (9.32 percent) worth nearly $109.5M at $15 apiece. | 0 | $0 |
Antonio Gracias, member of Tesla’s Board of Directors since May 2007, representing Valor Equity Partners, where he is chief executive officer and chief investment officer. | 4.91M shares (6.27 percent) worth nearly $73.7M at $15 apiece. | 0 | $0 |
Steve Jurvetson, member of Tesla’s Board of Directors since June 2009, representing VC firm Draper Fisher Jurvetson, where he is managing director. Jurvetson is also a director of Musk’s SpaceX. | 2.8M shares (3.53 percent) worth nearly $41.5M at $15 apiece. | 0 |
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...MUCH MORE