Canadian solar nets $255.7 million from latest share and note offerings.

Chinese-Canadian solar company Canadian Solar Inc. (CSI) has closed its latest public offering of 3,194,700 common shares. Each ADS represents four ordinary shares at par value $0.00002 per share. Tthe company has also closed the concurrent offering of $150 million in aggregate principal amount of 4.25% convertible senior notes due 2019. The notes will be convertible into common shares at an initial conversion rate of 22.2222 common shares per $1,000. Canadian Solar received aggregate net proceeds of approximately $255.7 million from these offerings. The company will use the net proceeds for general corporate purposes, »which may include expanding manufacturing capacity, the development of solar power projects and working capital.«

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