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First Solar Inc Announces Pricing Of Common Stock Offering


Wednesday, 12 Jun 2013 09:17pm EDT 

First Solar Inc announced the pricing of an underwritten public offering of 8,500,000 shares of its common stock at a price of $46.00 per share. Closing of the offering is expected to occur on June 18, 2013, subject to customary closing conditions. In addition, First Solar has granted the underwriters a 30-day option to purchase up to 1,275,000 shares of common stock. First Solar intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions of under development photovoltaic solar power system projects, investments in photovoltaic solar power system projects that will be jointly developed with strategic partners and capital expenditures or strategic investments to develop certain business units and expand in new geographies. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BofA Merrill Lynch and Citigroup Global Markets Inc. are acting as joint book-running managers for the offering. Credit Suisse, HSBC, Credit Agricole CIB and Goldman, Sachs & Co. are also acting as book-running managers for the offering. Lazard Frères & Co. LLC acted as financial advisor to First Solar. 

Company Quote

56.17
1.42 +2.59%
12:34pm EDT