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

May 27, 2021 11:25 AM | 1 min read | Make a Comment

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.

Posted In: News Offerings Tech Media Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.