Canadian Solar offering prices at $34 per share
NEW YORK—Canadian Solar Inc. said Thursday it would price its previously announced follow-on public offering at $34 per share.
The shares will be available for purchase on or about next Tuesday, the company said.
The purchase price represents a 5 percent discount from Wednesday's $35.65 close.
The solar company, which is based in Ontario but operates in China, said earlier this week it would offer 3.5 million shares and give underwriters,
Canadian Solar plans to use the proceeds from the offering for working capital, general corporate purposes and potential future acquisitions.
The stock fell $2.24, or 6.3 percent, to $33.41 in morning trading. Shares have ranged from $6.50 to $51.80 over the past year.
