Canadian Solar recommends USD-150m ATM equity offering programme
- Canadian Solar Inc (NASDAQ: CSIQ) on Thursday introduced plans for an at-the-market (ATM) equity offering program targeting as much as USD 150 million (EUR 123.1 m) in fresh funding.
The business has actually filed a prospectus supplement with the US Stocks as well as Exchange Payment (SEC) that provides it the right to supply as well as market ordinary shares every so often.
Canadian Solar intends to spend the web proceeds from the offer on its long-lasting growth plans, that include buying its battery storage organization and also expanding its pipe in that section. Several of the funds could be set aside for the financial investment or purchase of companies, assets or innovations that match the firm's organization as well as strengthen its solar portfolio. Opportunities for monetising the projects with public cars in markets such as Brazil as well as Europe will be checked out.
The ATM offering will be finished in around six months, or longer, while Canadian Solar kept in mind that there is no commitment for it to offer any type of shares under the program.
United States Tiger Stocks Inc will be the sales representative for the organized deals.