Tesla Motors files for $100 million IPO

Tesla Motors files for $100 million IPO
Tesla Motors filed papers to go public , betting the time is right to raise $100 million on the stock market from investors eager to get a share of the nascent electric-vehicle market.

The high-profile Silicon Valley company said it plans to use the proceeds from an initial public offering to continue manufacturing versions of its all-electric Roadster sports car and build the Model S, a luxury sedan.

In its prospectus, Tesla indicated that it has sold 937 Roadsters and made $93.3 million through the first nine months of 2009. Its balance sheet shows that it has built up a stockholder deficit of $230 million.

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