The Tesla and SpaceX founder was seen walking hand-in-hand with his 31-year-old girlfriend, Canadian singer Grimes. The pair, who have been dating since May 2018, looked casual and relaxed despite Tesla making a big announcement just hours before. On Friday, the electric car and energy company announced it increased the size of its stock and bond offering.
The company is now selling 3.1 million shares at a price of £184.47 ($243) per share, up from the 2.7 million shares previously stated on Thursday, according to filings.
Tesla added it is ramping up its convertible notes offering to £1.21 billion ($1.6 billion).
Mr Musk himself intends to buy more equity than previously signalled, purchasing now up to 102,880 shares in stock worth £18.98 million ($25 million) rather than the 41,896 shares previously indicated.
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The figures released on Friday push up the total value of the offering from £2.05 billion ($2.7 billion) from the £1.75 billion ($2.3 billion) expected just one day before.
Nomura Instinet analyst Christopher Eberle told CNBC explained this sudden change saying it is probably due by a “greater demand”.
The expert said: “As for the upsize of the deal – it’s usually driven by greater demand.
“When they shop around the deal and it ends up being larger, it’s usually because there’s significant demand.
“As for why now? I think a better question is ‘why not now?’
“It was pretty well telegraphed after the autonomous driving day that they were going to do a cap raise.
“Rather than let the rumours dictate the movement of the stock, it’s better to just stop delaying the inevitable and get it done.
“This buys them some breathing room for the next several quarters in the case of a weaker demand environment.”
The announcement was well perceived by the markets, with Tesla’s stocks rising 4 percent following a 4.3 percent pop the day before.
By the end of the day, the company was trading at £ 193.88 ($255.40).
Tesla faces challenges at home and abroad, as it is launching production in China and developing new models, including the high-volume Model Y SUV and a Semi commercial truck.