Musk to Tesla employees — “Taking Tesla Private”
Company-wide email (also posted to Tesla's blog) hours after the “funding secured” tweet, explaining a take-private at $420/share. Central to the SEC case.
Earlier today, I announced that I'm considering taking Tesla private at a price of $420/share. […] As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders. […] I own about 20% of the company now, and I don't envision that being substantially different after any deal is completed. […] This proposal to go private would ultimately be finalized through a vote of our shareholders.