Canadian Solar Announces At-The-Market Offering of Common Shares

GUELPH, Ontario — Canadian Solar has filed a prospectus supplement to sell up to an aggregate of US$100.0 million of its common shares through an at-the-market equity offering program. The common shares will be offered through Credit Suisse as sales agent. Sales, if any, of the common shares 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. Canadian Solar intends to use the net proceeds from the sales […]

By Derick Lila January 7, 20160

GUELPH, Ontario — Canadian Solar has filed a prospectus supplement to sell up to an aggregate of US$100.0 million of its common shares through an at-the-market equity offering program. The common shares will be offered through Credit Suisse as sales agent.

Sales, if any, of the common shares 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.

Canadian Solar intends to use the net proceeds from the sales of its common shares for general corporate purposes, which may include solar power project development and working capital.

The common shares will be offered under the Company’s automatic shelf registration statement on Form F-3, which was filed on January 4, 2016 and became effective upon filing. 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 and other documents the Company has filed with the SEC 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 [email protected].

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.

About Canadian Solar Inc.

Founded in 2001 in Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully deployed over 12 GW of premium quality modules in over 70 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006.