JA Solar announces direct offering

JA Solar (JASO) announces a registered direct offering under which the company will sell 3,045,685 shares to an institutional investor for $7.88 per ADS.

The investor also gets a a series of warrants (four of them in total) to acquire additional shares at various exercise prices over the course of the next two years.

Gross proceeds for the company could total as much as $96M, not including the Series B warrant which cannot be exercised for a year. (PR)

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