Tesla’s IPO

Electric carmaker Tesla Motors Inc. priced shares in its initial public offering above the expected range last night, according to a market source.

The company sold 13.3 million shares for $17 each, the source said, raising about $226 million. It boosted the number of shares it hoped to sell by 20 percent. It had planned to sell 11.1 million shares for $14 to $16 each.