Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that it has filed a prospectus supplement to sell up to an aggregate of US$50.0 million of its common shares through an at-the-market equity offering program. The common shares will be offered through Credit Suisse as sales agent.
Sales, if any, of the common shares under the at-the-market equity offering program will be made from time to time, at the Company's discretion, by means of ordinary broker transactions, including on the NASDAQ, in negotiated transactions at market prices, or as otherwise agreed with the sales agent. Canadian Solar intends to use the net proceeds from the sales of its common shares for general corporate purposes, which may include solar power project development expenses and working capital.
The common shares will be offered under the Company's existing shelf registration statement which has become effective. A prospectus supplement and a related base prospectus describing the terms of the offering have been filed with the Securities and Exchange Commission (the "SEC"). Investors are advised to read the prospectus supplement and the related base prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the at-the-market offering. A copy of the prospectus supplement and the base prospectus relating to these securities may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at email@example.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offering may be made only by means of a prospectus supplement and the related base prospectus.