Canadian Solar Prices Initial Public Offering
Canadian Solar Prices Initial Public Offering
11/09/06
JIANGSU, CHINA--(MARKET WIRE)--Nov 9, 2006 -- Canadian Solar Inc. ("the Company") (NASDAQ:CSIQ) today announced the pricing of its initial public offering of 7.7 million common shares at US$15 per share valued at US$115.5 million. Of the total number of shares, the Company is selling 6.3 million shares, while selling shareholders are selling 1.4 million shares.
The common shares will be listed on the Nasdaq Global Market under the symbol "CSIQ." The Company has granted to the underwriters a 30-day option to purchase an additional 700,000 common shares from Canadian Solar and an additional 455,000 common shares from selling shareholders in the event the underwriters sell more than 7.7 million shares in the offering.
Deutsche Bank Securities Inc. and Lehman Brothers Inc. are acting as lead underwriters of the offering, with CIBC World Markets and Piper Jaffray acting as co-managers. A copy of the final prospectus relating to the offering may be obtained by calling toll-free 1-800-503-4611 (Deutsche Bank Securities) or 1-888-603-5847 (Lehman Brothers).
A registration statement relating to these securities has been filed and declared effective by the Securities and Exchange Commission on November 8, 2006. This press release shall not constitute an offer to sell or a 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 would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Canadian Solar Inc.
Founded in 2001, Canadian Solar Inc. (CSI) is a standard solar module and specialty solar module and product company, serving customers located in various markets worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information visit www.csisolar.com.
Contacts:
In Calgary, Alberta
Bob Patterson
VP, Corporate Development
Canadian Solar Inc.
In the U.S.
David Pasquale
The Ruth Group
646-536-7006
The common shares will be listed on the Nasdaq Global Market under the symbol "CSIQ." The Company has granted to the underwriters a 30-day option to purchase an additional 700,000 common shares from Canadian Solar and an additional 455,000 common shares from selling shareholders in the event the underwriters sell more than 7.7 million shares in the offering.
Deutsche Bank Securities Inc. and Lehman Brothers Inc. are acting as lead underwriters of the offering, with CIBC World Markets and Piper Jaffray acting as co-managers. A copy of the final prospectus relating to the offering may be obtained by calling toll-free 1-800-503-4611 (Deutsche Bank Securities) or 1-888-603-5847 (Lehman Brothers).
A registration statement relating to these securities has been filed and declared effective by the Securities and Exchange Commission on November 8, 2006. This press release shall not constitute an offer to sell or a 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 would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Canadian Solar Inc.
Founded in 2001, Canadian Solar Inc. (CSI) is a standard solar module and specialty solar module and product company, serving customers located in various markets worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information visit www.csisolar.com.
Contacts:
In Calgary, Alberta
Bob Patterson
VP, Corporate Development
Canadian Solar Inc.
In the U.S.
David Pasquale
The Ruth Group
646-536-7006