North Coast Solar Stocks

October 22, 2009

Canadian Solar Announces Closing of Follow-on Offering of Common Shares

Filed under: CSIQ — Tags: , , , — Jason @ 1:24 pm

1:24 pm EDT, Thursday October 22, 2009

ONTARIO, Canada, Oct. 22 /PRNewswire-Asia-FirstCall/ — Canadian Solar Inc. (the “Company”, “Canadian Solar” or “we”) (CSIQ) today 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.

This communication shall 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 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 jurisdiction.

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