Hanwha SolarOne Co., Ltd. ("SolarOne" or the "Company") (NASDAQ: HSOL), a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic ("PV") cells and modules in China, today announced that it has filed a prospectus supplement to sell up to an aggregate ofUS$70 million of its American Depositary Shares, each representing five ordinary shares of par value US$0.0001per share, (the "ADSs") through an at-the-market equity offering program. The ADSs will be offered through Credit Suisse as sales agent.
Sales, if any, of the ADSs 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. Hanwha SolarOne intends to use the net proceeds from the sale of its ADSs primarily for technical upgrades to manufacturing processes and business diversification, including expansion of our downstream business, particularly in China. The ADSs will be offered under the Company's existing shelf registration statement, which became effective on November 13, 2013. 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 (including documents incorporated by reference therein) 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 firstname.lastname@example.org.
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.