Oct 14 2009
Canadian Solar Inc. (the "Company", "Canadian Solar" or "we") (Nasdaq: CSIQ) today announced that it intends to offer, subject to market and other conditions, approximately 6 million shares of common stock.
In connection with this offering, the underwriters will have an option to purchase up to an additional 900,000 shares of common stock. The company is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933.
The company plans to use the net proceeds for general corporate purposes. Pending application of the funds, the Company expects to invest the net proceeds in short-term interest-bearing securities or bank deposits.
The offering is being made solely by means of a prospectus supplement and accompanying prospectus. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
Morgan Stanley, Deutsche Bank Securities Inc. and Piper Jaffray & Co. are serving as joint bookrunners of this offering, and Wells Fargo Securities is serving as co-manager. Copies of the preliminary prospectus supplement and final prospectus supplement, when available, may be obtained from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, NY 10036.
Source: http://www.canadian-solar.com/