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First Solar Announces Pricing of Common Stock Offering

Announced pricing of of 8,500,000 shares of its stock at a price of $46 per share

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

First Solar, Inc. announced the pricing of an underwritten public offering of 8,500,000 shares of its common stock at a price of $46.00 per share. Closing of the offering was expected to occur on June 18, 2013, subject to customary closing conditions. In addition, First Solar has granted the underwriters a 30-day option to purchase up to 1,275,000 shares of common stock.

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 in new geographies.

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