On Friday, close to $1 billion in debt comes due for Tesla, an obligation that will wipe out about a quarter of the company’s cash.
On Friday, close to $1 billion in debt comes due for Tesla, an obligation that will wipe out about a quarter of the company's cash.
In its 2018 annual report, Tesla said it had $3.69 billion in unrestricted cash and equivalents to end the year. Former hedge fund manager Darius Brawn said the debt payment could put Tesla in a cash crunch, unless the company sees exceptional Model 3 sales next month. A Tesla spokesperson pointed to comments from the fourth-quarter shareholder letter, when the company said it has"sufficient cash on hand to comfortably settle in cash our convertible bond that will mature in March 2019." Tesla also said that its cash position improved by $1.45 billion in the second half of 2018, and that it expects positive net income and positive free cash flow"in every quarter beyond Q1 2019.
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