First Solar Raises $427.7 Million in Secondary Share Offering

First Solar Inc. raised $427.7 million in a secondary stock offering.

The company sold 9.75 million shares at $46 each, according to a statement today. That includes 1.25 million shares sold through the underwriters’ over-allotment option.

The company, based in Tempe, Arizona, will use the funds for general purposes that may include acquiring solar farms under development.

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