(Bloomberg) -- Tesla Inc. investors who got in on the Thursday’s share sale received of the steepest discount it has offered in its 10-year history as a public company.

The electric car-maker’s $2 billion secondary offering priced at $767 per share, 4.60% below Thursday’s closing price. That discount is over 10 times larger than Tesla’s last secondary offering in May, and quintuples the average discount given across its seven prior share sales.

Read more: Tesla Money Raise Keeps $14 Billion Virtuous Circle Rolling

An 83% run-up this year before the offering launched might have contributed to the more buyer-friendly pricing terms, not to mention recent news of product recalls and fresh regulatory scrutiny. But Elon Musk probably isn’t losing any sleep over the matter, as the price per share was still more than double any of the company’s prior equity raises.

Six of Tesla’s previous secondary offerings -- conducted between 2011 and 2019 -- priced at discounts below 1.0%. The bullish bidding helped Tesla fuel a decade of unparalleled price appreciation.

Shares fell 3% in pre-market trading to about $780, above Thursday’s offering price.

To contact the reporter on this story: Drew Singer in New York at dsinger28@bloomberg.net

To contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Courtney Dentch

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