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Tesla to exchange common shares for $145M of senior notes

Tesla Inc. plans to exchange approximately 1.16 million common shares for about $144.8 million of its outstanding 1.50% convertible senior notes due 2018.

The company will exchange the shares through separate privately negotiated agreements with certain holders of the notes, according to a Form 8-K filed June 1.

The private placement transactions are expected to close by June 1.