PVTIME – November 29, Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), announced today that it has completed its previously announced “at-the-market” offering program (“ATM Offering”) of common shares. Upon the completion of the offering, the Company had sold 3,639,918 of its common shares and raised US$150 million in gross proceeds before deducting commissions and offering expenses.
Canadian Solar intends to use the net proceeds from the ATM Offering to enhance the Company’s ability to execute its long-term strategic growth plans, including investing in its battery storage business and growing its storage pipeline, and for general corporate purposes. The Company may also use a portion of the net proceeds to invest in or acquire businesses, assets or technologies that it believes are complementary to its business, including investments to strengthen its portfolio of stable, cash-yielding solar power projects that it has developed, and may be monetized through public vehicles in markets such as Europe and Brazil.
The common shares were offered under the Company’s automatic shelf registration statement on Form F-3 which has become effective. A prospectus supplement and a related base prospectus describing the terms of the offering have previously been filed with the Securities and Exchange Commission. Copies of the prospectus supplement and accompanying prospectus relating to the ATM Offering may be obtained without charge by visiting the SEC’s website at www.sec.gov or by contacting US Tiger Securities, Inc. at 437 Madison Ave, 27th Floor, New York, NY 10022, and by email at IB@ustigersecurities.com.
This press release is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities.
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