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CANADIAN SOLAR ANNOUNCES PROPOSED OFFERING OF US$200 MILLION CONVERTIBLE SENIOR NOTES DUE 2031
KITCHENER, ON, Jan. 7, 2026 /PRNewswire/ -- Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar") today announced the proposed offering,
About this update from Canadian Solar Inc.
[{"type":"text","content":"KITCHENER, ON, Jan. 7, 2026 /PRNewswire/ -- Canadian Solar Inc. (NASDAQ: CSIQ) (the \"Company\", or \"Canadian Solar\") today announced the proposed offering, subject to market and other factors, of US$200 million aggregate principal amount of convertible senior notes due 2031 (the \"Notes\"). The Notes are to be offered and sold in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the \"Securities Act\"). The Company also expects to grant the initial purchaser(s) in the proposed offering an option to purchase, for settlement within a period of 13 calendar days from, and including, the date the Notes are first issued, up to an additional US$30 million aggregate principal amount of the Notes.\nThe Company plans to use the net proceeds from the proposed offering of the Notes for investments in U.S. manufacturing capacity, and in the value chain supporting battery energy storage and solar power solutions, as well as for working capital and general corporate purposes.When issued, the Notes will be senior unsecured obligations of the Company and will accrue interest semi-annually in arrears. The Notes will mature on January 15, 2031, unless earlier repurchased, redeemed or converted in accordance with their terms prior to such date.Holders of the Notes may convert all or part of their Notes at their option at any time prior to the close of business on the third business day immediately preceding the maturity date. Upon conversion, the Company will deliver to such converting holders a number of the Company's common shares equal to the applicable conversion rate as of the relevant conversion date, together with a cash payment in lieu of any fractional share. The interest rate, initial conversion rate and other terms of the Notes are to be determined at the time of pricing of the Notes.The Notes will be redeemable, in whole or in part, for cash at the Company's option at any time on or after January 22, 2029, if the last reported sale price of the Company's common shares has been at least 130% of the conversion price then in effect on each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immed...