We estimate that our net proceeds from the sale of the shares of common stock in this offering will be approximately $641.9 million, after deducting underwriting discounts and commissions and estimated offering expenses that we must pay. If the underwriters’ option to purchase additional shares in this offering is exercised in full, we estimate that our net proceeds in this offering will be approximately $738.3 million, after deducting underwriting discounts and commissions and estimated offering expenses that we must pay.
We intend to use the net proceeds from this offering to accelerate the growth of our business in the U.S. and internationally, including the growth of our stores, service centers, Supercharger network and the Tesla Energy business, and for the development and production of Model 3, the development of the Tesla Gigafactory and other general corporate purposes. Pending use of the proceeds as described above, we intend to invest the proceeds in highly liquid cash equivalents or United States government securities.