{"id":1295,"date":"2023-07-26T10:30:57","date_gmt":"2023-07-26T01:30:57","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=1295"},"modified":"2023-07-26T10:30:57","modified_gmt":"2023-07-26T01:30:57","slug":"canadian-solars-subsidiary-csi-solar-announces-full-exercise-of-the-over-allotment-option","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2023\/1295.html","title":{"rendered":"CANADIAN SOLAR&#8217;S SUBSIDIARY CSI SOLAR ANNOUNCES FULL EXERCISE OF THE OVER-ALLOTMENT OPTION"},"content":{"rendered":"\n<p>Guelph, ON,&nbsp;July 17, 2023&nbsp;\/PRNewswire\/ &#8212;&nbsp;<a href=\"http:\/\/www.canadiansolar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Canadian Solar Inc.<\/a>&nbsp;(&#8220;Canadian Solar&#8221; or the &#8220;Company&#8221;) (NASDAQ: CSIQ) today announced that, in connection with the initial public offering (&#8220;IPO&#8221;) of its majority-owned subsidiary&nbsp;CSI Solar Co., Ltd.&nbsp;(&#8220;CSI Solar&#8221;),&nbsp;CSI Solar&nbsp;has issued an additional 81,158,500 shares at the IPO price of&nbsp;RMB11.10&nbsp;per share to cover over-allotments. As a result,&nbsp;CSI Solar&nbsp;has raised additional gross proceeds of&nbsp;RMB0.9 billion&nbsp;(approximately&nbsp;US$125 million), in addition to the previously announced IPO gross proceeds of&nbsp;RMB6.0 billion&nbsp;(approximately&nbsp;US$850 million), before deducting offering expenses.&nbsp;CSI Solar&nbsp;raised an aggregate of&nbsp;RMB6.9 billion&nbsp;(approximately&nbsp;US$975 million) in gross proceeds from the IPO.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>After deducting the offering expenses of\u00a0RMB278 million, the net proceeds from the IPO were\u00a0RMB6.6 billion\u00a0(approximately\u00a0US$925 million).<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>CSI Solar\u00a0has issued 81,158,500 additional shares, representing approximately 15% of the 541,058,824 shares initially available under the IPO before any exercise of the over-allotment option. As a result, the total shares issued by\u00a0CSI Solar\u00a0were 622,217,324, representing approximately 17% of the 3,688,217,324 shares outstanding after the IPO. Following the exercise of the over-allotment option,\u00a0Canadian Solar\u00a0owns approximately 62% of\u00a0CSI Solar.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The shares of&nbsp;CSI Solar&nbsp;will not be and have not been registered under the Securities Act of 1933 and may not be offered or sold in&nbsp;the United States&nbsp;absent registration or an applicable exemption from registration requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guelph, ON,&nbsp;July 17, 2023&nbsp;\/PRNewswire\/ &#8212;&nbsp;Canadian Solar Inc.&nbsp;(&#8220;Canadian Solar&#038; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1295","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=1295"}],"version-history":[{"count":1,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1295\/revisions"}],"predecessor-version":[{"id":1296,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1295\/revisions\/1296"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=1295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=1295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=1295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}