Trade Resources Company News First Solar Has Announced an Underwritten Public Offering of 8,500,000 Shares

First Solar Has Announced an Underwritten Public Offering of 8,500,000 Shares

First Solar Inc of Tempe, AZ, USA – which manufactures thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement & construction (EPC) services – has announced an underwritten public offering of 8,500,000 shares of its common stock. In addition, the firm will grant the underwriters a 30-day option to purchase up to 1,275,000 shares.

First Solar intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions of under-development photovoltaic solar power system projects, investments in photovoltaic solar power system projects that will be jointly developed with strategic partners, and capital expenditures or strategic investments to develop certain business units and expand into new geographies.

J.P. Morgan Securities LLC, Morgan Stanley & Co LLC, BofA Merrill Lynch and Citigroup Global Markets Inc are acting as joint book-running managers for the offering. Credit Suisse, HSBC, Credit Agricole CIB and Goldman, Sachs & Co are also acting as book-running managers.

The shares are being offered pursuant to a shelf registration statement filed with and declared effective by the US Securities and Exchange Commission (SEC). A preliminary prospectus supplement and the accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website.

See related items:

First Solar reports Q1 sales up 52% year-on-year to a more-than-expected $755m

First Solar's sales grow 22% to $3.4bn for 2012

Source: http://www.semiconductor-today.com/news_items/2013/JUN/FIRSTSOLAR_110613.html
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First Solar Announces Public Offering of Common Stock