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 geographies.
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 firstname.lastname@example.org, BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or by emailing email@example.com or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (800) 831-9146.
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 jurisdiction.