Canadian Solar (CSIQ -3.08%) plans to sell up to $50 million worth of its common shares, the company announced today.
The solar-power company has filed a prospectus to sell the shares through an at-the-market equity offering program using Credit Suisse as the sales agent. If and when the common shares are sold, those sales will be accomplished through ordinary broker transactions, in negotiated transactions at market prices, or as otherwise agreed upon with the sales agent.
The company said the proceeds from the sales of its common stock will be used for general corporate purposes, including working capital and expenses used in solar power project development.
Canadian Solar provides solar modules, specialized solar products, and solar power plants to operations in North America, South America, Europe, Africa, the Middle East, Australia, and Asia.
