Tesla Goes Public, Raises $226 Million

The initial public stock offering went swimmingly for Tesla yesterday, bringing in a higher stock price than expected and resulting in $226 million for the California electric car maker. Tesla sold 13.3 million shares at $17 each–higher than the $14 to $16 that Tesla originally expected. After the sales, the company was valued at $1.33 billion.

Now that Tesla has some extra bills in its pocket, it will move to debut its Model S sedan. The IPO money will be put toward acquisitions and factories.

Tesla’s stock begins trading on NASDAQ today under the symbol TSLA. [via WCF]