Elon Musk may buy $10 million of Tesla stock in new offering

GP: Elon Musk, chief executive officer of Tesla Inc., speaks during an event at the site of the company's manufacturing facility in Shanghai, China, on Monday, Jan. 7, 2019.

Qilai Shen | Bloomberg | Getty Images

Tesla said in a filing on Friday that CEO Elon Musk plans to buy about $10 million of the company's stock as part of a new public offering.

The total offering is for 2.7 million shares of Tesla. Musk's purchase would be 41,896 shares.

Tesla shares fell earlier in premarket trading when the company put out an initial filing indicating it would be offering a mix of debt and equity securities. The stock then reversed course and was last trading 4.6% higher when the second filing revealed that Musk was interested in buying a block of the new shares.

The offering is being underwritten by Goldman Sachs, Citigroup, Bank of America, Deutsche Bank, Morgan Stanley, Credit Suisse, Societe Generale and Wells Fargo.

This is a developing story. Check back for updates.

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