Canadian Solar Sells 6M Shrs At $15.75; 3% Discount - Eric Savitz (Barron's)

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Canadian Solar Sells 6M Shrs At $15.75; 3% Discount
Oct 16, 2009 03:03 PM UTC

Eric Savitz (Barron's)

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Symbol	Sentiment	Start	Return	Closed
CSIQ	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

Canadian Solar (CSIQ) late yesterday said it priced an offering of 6 million common shares at $15.75, about a 3% discount to yesterday’s closing price of $16.26.

The company granted the underwriters an option to sell another 900,000 shares to cover over-allotments. Morgan Stanley, Deutsche Bank and Piper Jaffray are leading the offering, with Wells Faro as co-manager.

CSIQ said it will use the proceeds for general corporate purposes.

CSIQ today is down 49 cents, or 3%, to $15.77.

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