CANADIAN SOLAR ANNOUNCES CLOSING OF OFFERING OF US$230 MILLION CONVERTIBLE SENIOR NOTES DUE 2031

Rhea-AI Summary

Canadian Solar (NASDAQ: CSIQ) closed a private offering of US$230.0 million aggregate principal amount of 3.25% convertible senior notes due 2031 on Jan 13, 2026, including initial purchasers' full exercise of a US$30.0 million option. The offering was to qualified institutional buyers under Rule 144A. Net proceeds are approximately US$223.1 million after discounts and estimated offering expenses. The notes and any common shares deliverable on conversion are not registered under the Securities Act and may not be offered or sold without registration or an applicable exemption.

Positive

• Raised approximately US$223.1M net proceeds
• Convertible notes structured at a 3.25% coupon
• Initial purchasers exercised full US$30M option

Negative

• Notes convertible into common shares that are not registered
• Outstanding interest obligation 3.25% until 2031
• Private Rule 144A placement limits public resale liquidity

News Market Reaction – CSIQ

+8.54%

71 alerts

+8.54% Session close to close

+10.6% Peak in 4 hr 13 min

$1.57B Market Cap

1.2x Rel. Volume

In the Jan 13 session, CSIQ gained 8.54%, reflecting a notable positive market reaction. Argus tracked a peak move of +10.6% during that session. Our momentum scanner triggered 71 alerts that day, indicating high trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +8.5% in the session following this news. A strong positive reaction aligns with com...

Analysis

The stock moved +8.5% in the session following this news. A strong positive reaction aligns with completion of the previously outlined financing, as the company closed its US$230 million 3.25% convertible notes due 2031. Past offering-tagged headlines averaged about a 3.13% move, so a larger gain could reflect relief that terms and closing matched prior disclosures. Investors may still weigh dilution and conversion overhang from the notes when assessing how durable a move of around 4.49% might be after the financing settles into the capital structure.

Key Figures

Convertible notes principal: US$230 million Coupon rate: 3.25% Additional notes option: US$30 million +5 more

8 metrics

Convertible notes principal US$230 million Aggregate principal amount of 3.25% convertible senior notes due 2031

Coupon rate 3.25% Interest rate on the convertible senior notes

Additional notes option US$30 million Principal from initial purchasers’ exercised option

Net proceeds US$223.1 million After purchasers’ discount and estimated offering expenses

Maturity year 2031 Due date of the convertible senior notes

Rule Rule 144A Exemption used for private offering to qualified institutional buyers

Act year 1933 Securities Act of 1933 referenced for registration status

Price change 4.49% Pre-news 24h share price change from market_context

Historical Context

5 past events · Latest: Jan 09 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 09	Notes offering priced	Neutral	-0.1%	Pricing details for 2031 convertible notes and intended capital deployment.
Jan 07	Notes offering proposed	Negative	-6.2%	Announcement of new convertible notes financing and potential dilution.
Dec 24	Leadership changes	Positive	+1.8%	New President and COO appointments to support expansion strategy.
Dec 17	Storage contract win	Positive	+0.5%	Large Australian BESS EPC award expanding storage footprint.
Dec 02	UK project approval	Positive	-6.2%	Major UK solar-plus-storage project DCO secured despite share decline.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news often saw price moves aligned with headline tone; one major project win coincided with a sharp downside divergence.

Recent Company History

Over the past six weeks, Canadian Solar combined corporate financing and operational news. Two recent offering-tagged releases on Jan 07 and Jan 09, 2026 detailed a proposed and then priced convertible notes deal, with modest to sharp negative price reactions. Prior news in late Dec 2025 highlighted leadership changes and growth in battery storage and UK solar projects, generally viewed as strategic expansion moves, though one UK project announcement on Dec 02 coincided with a notable share price decline.

Key Terms

convertible senior notes, qualified institutional buyers, rule 144a

3 terms

convertible senior notes financial

"offering of US$230 million aggregate principal amount of 3.25% convertible senior notes due 2031"

Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.

qualified institutional buyers financial

"private offering to persons reasonably believed to be qualified institutional buyers"

Qualified institutional buyers are large organizations, like big investment firms or banks, that are allowed to buy certain types of investment opportunities not available to everyday investors. Their size and experience matter because it ensures they understand and can handle complex financial deals, making markets more efficient and secure.

rule 144a regulatory

"pursuant to Rule 144A under the Securities Act of 1933"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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KITCHENER, ON, Jan. 13, 2026 /PRNewswire/ -- Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar") today announced the closing of its previously announced offering of US$230 million aggregate principal amount of 3.25% convertible senior notes due 2031 (the "Notes"), including the exercise of option by the initial purchasers in full to purchase an additional US$30 million aggregate principal amount of the Notes. The Notes were offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").

The net proceeds from the offering are approximately US$223.1 million, after deducting the initial purchasers' discount and estimated offering expenses.

The Notes and the common shares deliverable upon conversion of the Notes have not been and will not be registered under the Securities Act or any securities laws of any other place and may not be offered or sold absent registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Canadian Solar Inc.

Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 170 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 16 GWh of battery energy storage solutions to global markets as of September 30, 2025, boasting a $3.1 billion contracted backlog as of October 31, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 25 GWp of solar and 81 GWh of battery energy storage capacity in various stages of development. Canadian Solar has been publicly listed on the NASDAQ since 2006.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com

View original content:https://www.prnewswire.com/news-releases/canadian-solar-announces-closing-of-offering-of-us230-million-convertible-senior-notes-due-2031-302659836.html

SOURCE Canadian Solar Inc.

FAQ

What did Canadian Solar (CSIQ) announce on Jan 13, 2026?

Canadian Solar closed a private offering of US$230M 3.25% convertible senior notes due 2031, with net proceeds of ~US$223.1M.

How much did Canadian Solar (CSIQ) net from the convertible notes offering?

Net proceeds are approximately US$223.1 million after discounts and estimated offering expenses.

What is the coupon and maturity of the CSIQ convertible notes?

The notes carry a 3.25% coupon and mature in 2031.

Did initial purchasers exercise any overallotment for CSIQ notes?

Yes; initial purchasers exercised in full a US$30 million option increasing the aggregate principal to US$230M.

Are the shares issued on conversion of CSIQ notes registered for public resale?

No; the notes and common shares deliverable on conversion have not been and will not be registered under the Securities Act.

Who could buy the CSIQ convertible notes offered on Jan 13, 2026?

The notes were sold in a private offering to persons reasonably believed to be qualified institutional buyers under Rule 144A.