UPDATE 1-Tesla Motors plans share sales to raise $214 mln

Newswire

* Company plans public offering, private placement * Will use proceeds to develop Model X crossover vehicle * Tesla shares rise 5.8 percent DETROIT, May 25 (Reuters) - Electric car maker Tesla Motors Inc plans to raise up to $214 million through a secondary public offering of its shares and a private placement. Tesla shares rose 5.8 percent to $28.27 in midday trading on Nasdaq. In a regulatory filing on Wednesday, Tesla said it planned to raise up to $158.5 million through a ...

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