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Canadian Solar raises $103.3M in share offering
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NEW YORK - Solar-energy-system maker Canadian Solar Inc. on Thursday said it completed an offering of 6.9 million shares, raising $103.3 million, after discounts and commissions.
The offering was set at a price of $15.75 per share. Underwriters purchased an additional 900,000 shares.
Last week, Canadian Solar said it plans to use net proceeds from the offering for general corporate purposes.
Morgan Stanley, Deutsche Bank Securities and Piper Jaffray served as joint bookrunners in the offering, and Wells Fargo Securities served as co-manager.
Canadian Solar shares fell 5 cents to $16.21 in afternoon trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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