First Solar (FSLR) Moves Lower Following Dilutive Equity Offering
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First Solar, Inc. (Nasdaq: FSLR) shares are down about 4 percent late Tuesday following an after-hours announcement of plans to sell 8.5 million common shares.
First Solar said it "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."
First Solar ended Tuesday's trading session down 7.3 percent.
First Solar said it "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."
First Solar ended Tuesday's trading session down 7.3 percent.
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