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CANADIAN SOLAR PRICES OFFERING OF US$200 MILLION CONVERTIBLE SENIOR NOTES DUE 2031
KITCHENER, ON, Jan. 9, 2026 /PRNewswire/ -- Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar") today announced the pricing of its
About this update from Canadian Solar Inc.
[{"type":"text","content":"KITCHENER, ON, Jan. 9, 2026 /PRNewswire/ -- Canadian Solar Inc. (NASDAQ: CSIQ) (the \"Company\", or \"Canadian Solar\") today announced the pricing of its previously announced offering of US$200 million aggregate principal amount of convertible senior notes due 2031 (the \"Notes\"). The Notes were offered 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 has granted the initial purchasers in the 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. The Company expects to close the offering of the Notes on or about January 13, 2026, subject to the satisfaction of customary closing conditions.\nThe Company estimates that net proceeds from the offering will be approximately US$194.6 million (or approximately US$223.9 million if the initial purchasers exercise in full their option to purchase additional Notes), after deducting the initial purchasers' discount and estimated offering expenses payable by the Company. The Company plans to use the net proceeds from the offering for investments in U.S. manufacturing, 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 at a rate of 3.25% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, beginning on July 15, 2026. 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 initial conversion rate of the Notes is 36.1916 common shares of the Company per U...