North Coast Solar Stocks

October 15, 2009

Canadian Solar Announces Pricing of Follow-on Public Offering

Filed under: CSIQ — Tags: , , , — Jason @ 8:46 pm

8:46 pm EDT, Thursday October 15, 2009

ONTARIO, Canada, Oct. 15 /PRNewswire-Asia-FirstCall/ — Canadian Solar Inc. (the “Company”, “Canadian Solar” or “we”) (CSIQ) today 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 is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933.

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.

The offering is being made solely by means of a prospectus supplement and accompanying prospectus. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

Morgan Stanley, Deutsche Bank Securities Inc. and Piper Jaffray & Co. are serving as joint bookrunners of this offering, and Wells Fargo Securities is serving as co-manager. Copies of the final prospectus supplement, when available, may be obtained from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, NY 10036. The Company’s final prospectus supplement, when available, may also be obtained from the U.S. Securities and Exchange Commission’s website at: http://www.sec.gov.

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