PR Newswire·Jan 9, 2026, 12:22 AM ET

CANADIAN SOLAR PRICES OFFERING OF US$200 MILLION CONVERTIBLE SENIOR NOTES DUE 2031

CSIQ

Canadian Solar Inc. priced a US$200 million offering of convertible senior notes due in 2031 in a private Rule 144A placement.
Initial purchasers have an option to buy up to an additional US$30 million of the notes within 13 days of issuance.
The offering is expected to close on or about January 13, 2026, subject to customary conditions.
Estimated net proceeds are approximately US$194.6 million, potentially rising to US$223.9 million if the option is fully exercised.
Proceeds will fund investments in U.S. manufacturing, the battery energy storage & solar power value chain, working capital, & general corporate purposes.
The senior unsecured notes accrue interest at 3.25% per annum, payable semi-annually on January 15 & July 15, with the first payment due July 15, 2026.
Notes mature on January 15, 2031, unless repurchased, redeemed, or converted earlier.
Holders may convert notes at an initial rate of 36.1916 common shares per US$1,000 principal, representing a conversion price of approximately US$27.63 per share.
The initial conversion price reflects a 42.5% premium over the January 8, 2026, closing price of US$19.39 per share.
The Company may redeem notes for cash on or after January 22, 2029, if the stock price exceeds 130% of the conversion price for 20 of 30 consecutive trading days.
Holders may require cash repurchase upon certain fundamental changes, receiving 100% of the principal plus accrued interest.
Notes & underlying shares are unregistered under the Securities Act & may not be offered or sold without registration or an applicable exemption.
Canadian Solar is a global solar technology leader with nearly 170 GW of modules delivered & a project pipeline including 25 GWp of solar & 81 GWh of storage capacity.