Canadian Solar Seeks To Raise $150M Via Secondary ATM Equity Offering

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  • Canadian Solar Inc CSIQ filed an SEC prospectus to sell up to $150 million shares under an at-the-market (ATM) equity offering program.
  • The ATM offering proceeds will be used to execute its long-term strategic growth plans, including investing in its battery storage business and growing its storage pipeline. 
  • A portion of the proceeds might be utilized to fund strategic acquisitions, including investments to strengthen its solar power project portfolio.
  • Canadian Solar held $981.2 million in cash and equivalents as of March 31, 2021.
  • Price action: CSIQ shares traded lower by 1.7% at $40.31 on the last check Thursday.
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