Stock Track | Canadian Solar Soars 5.19% Intraday After Closing $230 Million Convertible Notes Offering
Stock Track01-13
Canadian Solar Inc. (CSIQ) saw its stock price soar by 5.19% during intraday trading on Tuesday, following the company's announcement of the successful closing of a $230 million convertible senior notes offering.
The offering, which includes $230 million aggregate principal amount of 3.25% convertible senior notes due 2031, was conducted in a private placement to qualified institutional buyers. The net proceeds from the offering are approximately $223.1 million after deductions for discounts and expenses. This capital-raising event is likely driving positive investor sentiment, contributing to the stock's upward movement.
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