Canadian Solar raises USD 150m in share sale

Dollars in green. Author: 401(K) 2012.

November 29 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) said today it has closed its previously announced "at-the-market" offering programme of common shares, raising USD 150 million (EUR 133m) in gross proceeds in the process.

In this offering, the solar company has sold nearly 3.64 million common shares. It plans to use the net proceeds to bolster its ability to execute its long-term strategic growth plans. This includes investing in its battery storage business and growing its storage pipeline. A portion will be used for general corporate purposes.

Moreover, Canadian Solar may utilise some of the funds to invest in or acquire complementary businesses, assets or technologies, the company said.

(USD 1.0 = EUR 0.888)

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