Key Developments For Canadian Solar Inc.
Canadian Solar Inc. (CSIQ.O) (Consolidated Issue listed on NASDAQ Global Market)
Canadian Solar Inc. Announces Closing Of Follow On Offering Of Common Shares
Canadian Solar Inc. announced the closing of its previously announced follow-on offering of common stock. In total, the Company sold 6,900,000 shares of common stock at a public offering price of $15.75 per share, including 900,000 shares purchased by the underwriters in connection with their exercise, in full, of their option to purchase additional shares in connection with the offering. Canadian Solar received total net proceeds of approximately $103.3 million after underwriting discounts and commissions and before offering expenses. Morgan Stanley, Deutsche Bank Securities Inc. and Piper Jaffray & Co. served as joint bookrunners in the offering, and Wells Fargo Securities served as co-manager.
Canadian Solar Inc. Announces Exercise Of Option To Purchase Additional Shares
Canadian Solar Inc. announced that the underwriters of its previously announced follow-on public offering of common stock have fully exercised their option to purchase 900,000 additional shares of common stock. The option was granted in connection with the follow-on public offering of 6,000,000 shares of common stock at a public offering price of $15.75 per share. The exercise of the option brings the expected total net proceeds to approximately $103.3 million after underwriting discounts and commissions and before offering expenses. 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.
Canadian Solar Inc. Announces Pricing Of Follow On Public Offering
Canadian Solar Inc. announced that it has priced the sale of 6.0 million shares of its common stock at $15.75 per share. In connection with this offering, the Company has granted the underwriters a 30 day option to purchase up to an additional 900,000 shares of common stock. 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. Morgan Stanley, Deutsche Bank Securities Inc. and Piper Jaffray & Co. are serving as joint book runners of this offering.
Canadian Solar Inc. Announces Follow On Public Offering
Canadian Solar Inc. 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 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. Morgan Stanley, Deutsche Bank Securities Inc. and Piper Jaffray & Co. are serving as joint book runners of this offering.
Canadian Solar Inc. Issues Q3 2009 Revenue Outlook Above Analysts' Estimates
Canadian Solar Inc. announced that for the third quarter of 2009, it expects net revenues to be approximately $210 to $215 million. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $203 million for the same period.
