The IPO date is in two weeks.
Today, Tesla and its stockholders announced it will sell 11.1 million shares for $14 to $16 each in an initial public offering, according to a regulatory filing. Toyota will invest another $50 million in the company.
The Toyota deal was announced last month. Part of it included Tesla buying the recently shut-down NUMMI plant in Fremont. Tesla says that Fremont location will be used to make its Model S luxury electric sedan.
Tesla on Tuesday raised its expected proceeds from the $100 million it listed in its initial stock-registration filing with the Securities and Exchange Commission on Jan. 29.
The electronic car company currently makes just one vehicle, the high-end Roadster sports car. It is working on a mass-market sedan with Toyota that is expected to start selling in 2012 for less than $50,000. That price would include a federal tax credit of $7,500.
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Until the sedan -- the Model S that will be built in Fremont-- hits the market, Tesla expects continuing quarterly losses. It has lost $290.2 million since the company was founded in 2003. Its net loss deepened in the first quarter to $29.5 million from $16 million in the same period last year.
Tesla's total revenue since 2003 has been just $147.6 million, generated by sales of 1,063 Roadsters as of March 31. But the company said it can use a long-term $465 million loan from the Department of Energy to finance manufacturing of the Model S.