SAN FRANCISCO (AP) Tesla Inc. plans to announce an IPO with a new name and logo in the coming weeks, announcing its plans to raise $1 billion through a $3 billion offering of stock and debt.
The announcement was made Thursday during the annual conference call of Tesla’s board of directors.
It follows a $2 billion initial public offering in June.
“Tesla will be announcing an initial public offer of common stock in the fourth quarter of 2018,” Tesla said in a statement.
“The company will be introducing a new stock offering called Tesla Inc., that will be issued in accordance with the terms of the company’s initial public offerings.”
The company has been making the rounds in recent months as investors have been clamoring for the electric-car maker to launch a car, a technology or both.
In the past two years, the stock has risen from around $150 per share to nearly $200.
The company announced the new name on Thursday, calling it the “Tesla Model S,” and its first offering since Tesla was sold to private equity firm Andreessen Horowitz in 2014 for $1.9 billion.
Tesla said it will use the name to help identify investors in the offering.
The new name also marks the latest twist in a series of name changes for Tesla, which is now owned by a group of investors led by investor Carl Icahn.
The company changed its name to Tesla in 2014, which Icahn owns.
Icahn, who is also the chairman of the Trump transition team, is an outspoken critic of the U.S. government.