Tesla CEO Elon Musk checks out the Model Y during its unveiling in March. (Tesla via YouTube) Tesla is aiming to raise up to $2.3 billion in newly announced offerings of stock and convertible notes, just a week after CEO Elon Musk told analysts that the . Musk himself will purchase an additional $10 million of common stock, Tesla said today in a . That would add to his status as the electric-car company’s largest shareholder, with roughly 20 percent of Tesla’s shares. The share price was more than 3.5 percent above the previous day’s close during midday trading today. Wedbush Securities analyst Dan Ives said in a note to investors that the offerings were a “clear net positive for Tesla” because they cleared up long-lingering uncertainty over whether Tesla would have enough cash on hand to meet upcoming debt payments. One of the offerings announced today will make $650 million in common stock available, while the second offering calls for the issuance of up to $1.35 billion in convertible senior notes due in 2024. There’s also a 30-day option for underwriters to purchase up to an additional 15% of each offering. If all the options are exercised, the gross proceeds would come to about $2.3 billion before discounts and expenses, Tesla said. Goldman Sachs and Citigroup are acting as joint lead managers for the offering, with involvement as well from BofA Merrill Lynch, Deutsche Bank Securities, Morgan Stanley, Credit Suisse, Societe Generale and Wells Fargo Securities. The company said it would “use the net proceeds to further strengthen its balance sheet, as well as for general corporate purposes.” In last week’s financial report, Tesla for the first quarter of the year, after posting profits for the previous two quarters. Looking ahead, the company has ambitious plans to ramp up production of its Model 3 electric car and move ahead with projects ranging from its Semi truck, Model Y crossover SUV and all-electric pickup truck to electricity-generating solar roofs, a and car insurance. Some analysts worry about the effect of Tesla’s financial losses, the gradual fade-out of federal tax credits and rising competition in the electric-vehicle market. Such uncertainties, coupled with , have led to dramatic ups and downs in the share price over the past year. A year ago, for Tesla’s investors: “Do not buy if volatility is scary,” he said.
Bags of coffee beans are shown sitting on scales developed by Bottomless, a Seattle startup that measures coffee consumption and delivers refills. (Bottomless Photo) The next cup of coffee should be on . The Seattle startup using technology to make sure that coffee lovers never run out of the stuff they love has raised $1.9 million, according to a recent . The company declined to reveal investors. RELATED: Michael Mayer, the entrepreneur who co-founded Bottomless alongside his wife Liana Herrera, had been bootstrapping the 3-year-old company prior to raising $245,000 last summer. Bottomless combines original hardware, an online marketplace, machine learning and more to determine when customers need a shipment of fresh beans. The solution, in part, is a rechargeable scale on which users set a bag of fresh beans that they’re using to make their daily coffee. The scale is connected to WiFi (and to Bottomless) and as the bag becomes lighter, it triggers the order for more beans. Users select from numerous Seattle-area roasters — Caffe Vita, Ladro Roasting and more — who are partnering with Bottomless. Mayer, a “self-taught developer/technologist,” said his machine learning algorithms have already matured and that the plan with the new capital is to “add a few team members to continue investing in our algorithms and tech.” He also wants to scale up in the fresh coffee market with eyes on expansion, and they just added roasters in the San Francisco Bay Area and San Diego.
Russell Wilson in action during a Seattle Seahawks game at CenturyLink Field. (GeekWire Photo / Kevin Lisota) Deion Sanders may have been “Prime Time” during his playing days in the NFL, but Russell Wilson is a prime player when it comes to Amazon. The Seattle Seahawks QB has taken stock in the guys who helped him become the highest paid player in the NFL by actually purchasing Amazon stock for his offensive linemen as a “thank you” for protecting him every Sunday. Monday that Wilson sent a letter to 13 linemen, informing them that he was gifting them each $12,000 in stock in the Seattle-based tech giant. Wilson spent a total of $156,000 — a week after signing a contract extension with the Seahawks that will pay him a reported $140 million over four years. TMZ Sports shared a from Wilson in which he told his teammates that they “go to battle together” every Sunday and that he would not be where he is today without them. Wilson said he wanted to give the men something that would have a lasting imapact and help them prepare for life after football. “One of the ways I prepare is by investing in companies and ideas that I believe will grow and change the world,” Wilson wrote. “One of these companies is Amazon.” It’s an interesting choice in Seattle-area tech investments given that the team Wilson plays for is what it is because of the Microsoft billions made by the team’s late owner, Microsoft co-founder Paul Allen. And Wilson himself has helped the NFL and the company for the league — the Microsoft Surface. But maybe with Amazon CEO Jeff Bezos did the trick in luring Wilson’s investment dollars. Or, the fact that Bezos , Wilson’s attempt at a social media startup, may have helped. “You have invested in my life … this is my investment into yours,” Wilson said in his letter.