Tesla to raise about $1.15 billion from stock and notes offering

(Reuters) - Tesla Inc said on Wednesday it expects to raise about $1.15 billion from stock and senior notes offering, as the electric car maker accelerates the launch of its new Model 3 electric sedan.

The company's shares were up 2.1 percent at $261.11 in extended trading.

Tesla said it would offer $250 million of common stock and $750 million aggregate principal amount of convertible senior notes due in 2022 in concurrent underwritten registered public offerings. [nMKW8KSX6a]

The company also said Chief Executive Elon Musk will participate in the offering by purchasing $25 million of the company's stock.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)