Hanwha SolarOne: Offering of shares
SHANGHAI - Hanwha SolarOne Co., Ltd., a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic ("PV") cells and modules in China, announced that it has filed a prospectus supplement to sell up to an aggregate of US$70 million of its American Depositary Shares, each representing five ordinary shares of par value US$0.0001 per share, (the "ADSs") through an at-the-market equity offering program. The ADSs will be offered through Credit Suisse as sales agent.
Sales, if any, of the ADSs under the at-the-market equity offering program will be made from time to time, at the Company's discretion, by means of ordinary broker transactions, including on the NASDAQ, in negotiated transactions at market prices, or as otherwise agreed with the sales agent. Hanwha SolarOne intends to use the net proceeds from the sale of its ADSs primarily for technical upgrades to manufacturing processes and business diversification, including expansion of our downstream business, particularly in China. The ADSs will be offered under the Company's existing shelf registration statement, which became effective on November 13, 2013. A prospectus supplement and a related base prospectus describing the terms of the offering have been filed with the Securities and Exchange Commission (the "SEC"). Investors are advised to read the prospectus supplement and the related base prospectus (including documents incorporated by reference therein) for more complete information about the Company and the at-the-market offering. A copy of the prospectus supplement and the base prospectus relating to these securities may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at firstname.lastname@example.org.
About Hanwha SolarOne
Hanwha SolarOne (NASDAQ: HSOL) is a vertically-integrated manufacturer of silicon ingots, wafers, PV cells and modules. Hanwha SolarOne offers high-quality, reliable products and services at competitive prices. Partnering with third party distributors, OEM manufacturers, and system integrators, Hanwha SolarOne serves the utility, commercial, government, and residential markets. The Company maintains a strong worldwide presence with employees located throughout Europe, North America, and Asia and embraces environmental responsibility and sustainability with an active role in the voluntary photovoltaic recycling program. Hanwha Group, Hanwha SolarOne's largest shareholder, is active in solar project development and financing, and plans to produce polysilicon in the future. For more information visit: www.hanwha-solarone.com.
SOURCE: Hanwha SolarOne