Tesla said Thursday it plans to sell about $2 billion in additional stock, even as the electric car maker revealed it’s getting fresh scrutiny from securities regulators.

Tesla announced common stock sale despite CEO Elon Musk saying such a sale wouldn’t “make sense” just two weeks earlier, insisting that Tesla was spending money “efficiently” without “artificially limiting our progress.”

“We are still generating positive cash,” Musk told analysts on Tesla’s Jan. 29 earnings call. “So in light of that, it doesn’t make sense to raise money because we expect to generate cash despite this growth level.”

The apparent reversal was not unexpected given Tesla’s moonshot growth plans, including a forthcoming factory in Germany and the possibility of another in Texas, CFRA Research analyst Garrett Nelson said.

“I was surprised that Elon was so dismissive of it on the conference call,” he said. “They’ve encountered some operational challenges in the past few weeks that probably factored into their decision.”

In a Thursday filing, Tesla also disclosed that it had been subpoenaed by the Securities and Exchange Commission in December for financial data and contracts, including its financing arrangements.

Investors are likely not too worried about the SEC probe, Nelson said, pointing out that in December the SEC also closed a prior investigation into Tesla’s statements surrounding Model 3 production rates.

“Worst case they would get fined and have to restate some financials,” Nelson said. “It’s nothing that would be material to the overall growth of the company itself.”

Tesla shares surged 4.8 percent to $804 as Musk pledged to buy up to $10 million in shares from the offering. Larry Ellison, a Tesla board member and the co-founder of software giant Oracle, will also buy as much as $1 million in shares, the automaker said.

The offering comes on the heels of a stunning stock rally that saw Tesla’s share price more than double in a little more than a month. The run has been fueled in part by Tesla’s stronger-than-expected earnings for the end of 2019 and a profit at the battery factory the company runs with Panasonic.

But the gains have been pared since last week as the coronavirus outbreak in China reportedly forced Tesla to delay some deliveries there. The company also recently issued a recall for most Model X vehicles built before mid-October 2016 because of problems with a power steering component.