Founded in 2003, Tesla Motors has announced it is offering an additional 5.3 million shares of common stock. In addition, Tesla Motors CEO Elon Musk and Daimler affiliate Blackstar Invesetco plan to purchase additional company shares in a private placement at the public offering price (PIPE). Part of the funds will go into developing Tesla’s electric SUV vehicle, Model X. The combined public offering and private placement could net Tesla $214.23 million.