First Solar Announces Closing of Common Stock Offering
TEMPE, Ariz.--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) ("First Solar") today announced the
closing of an underwritten public offering of 9,747,000 shares of its
common stock, including 1,247,000 shares issued and sold as a result of
the exercise of substantially all of the underwriters' over-allotment
option on June 17, 2013, at a public offering price of $46.00 per share.
First Solar received approximately $427.7 million in net proceeds from
the offering after underwriting discounts and estimated offering
expenses. 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
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BofA Merrill Lynch
and Citigroup Global Markets Inc. acted as joint book-running managers
for the offering. Credit Suisse, HSBC, Credit Agricole CIB and Goldman,
Sachs & Co. also acted as book-running managers for the offering. Lazard
Frères & Co. LLC acted as financial advisor to First Solar.
The shares were offered pursuant to a shelf registration statement
previously filed with and declared effective by the Securities and
Exchange Commission (the "SEC") on June 11, 2013. A final prospectus
supplement and the accompanying prospectus relating to the offering were
filed with the SEC on June 13, 2013 and are available on the SEC's
website at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may also be obtained from J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204, Morgan
Stanley & Co. LLC at Prospectus Dept: 180 Varick Street, 2nd Floor, New
York, NY 10014, Attn: Prospectus Department, or by calling (866)
718-1649, or by emailing email@example.com,
BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus
Department or by emailing firstname.lastname@example.org
or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, or by calling (800)
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, these securities, nor shall there be
any sale of these securities in any state or jurisdiction in which such
offer, solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar power systems which use its module and systems technology.
First Solar's integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today.
This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which
are subject to inherent risks, uncertainties and assumptions that are
difficult to predict. All statements in this press release, other than
statements of historical fact, are forward-looking statements. The
forward-looking statements include statements, among other things,
concerning our business strategy, including anticipated trends and
developments in and management plans for, our business and the markets
in which we operate; future financial results, operating results,
revenues, gross margin, operating expenses, products, projected costs,
and capital expenditures; our ability to continue to reduce the cost per
watt of our solar modules; research and development programs and our
ability to improve the conversion efficiency of our solar modules; sales
and marketing initiatives; and competition. In some cases, you can
identify these statements by forward-looking words, such as "estimate,"
"expect," "anticipate," "project," "plan," "intend," "seek," "believe,"
"forecast," "foresee," "likely," "may," "should," "goal," "target,"
"might," "will," "could," "predict," "continue," and the negative or
plural of these words, and other comparable terminology. Forward-looking
statements are only predictions based on our current expectations and
our projections about future events. All forward-looking statements
included in this press release speak only as of the date of this press
release. You should not place undue reliance on these forward-looking
statements. We undertake no obligation to update any of these
forward-looking statements for any reason. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance, or achievements to differ materially from those expressed
or implied by these statements.
First Solar Investors
Source: First Solar, Inc.
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