PHOENIX, July 19, 2007 (PRIME NEWSWIRE) -- First Solar, Inc. (Nasdaq:FSLR) announced today the filing of a registration statement with the Securities and Exchange Commission for a proposed offering of up to 9,650,000 shares of its common stock. The 9,650,000 shares to be registered include 5,650,000 shares owned by certain stockholders of the Company.
The Company intends to use the net proceeds it receives in the proposed offering to build a second four line production plant at its Malaysia manufacturing center, to fund the associated production start-up and ramp-up costs and for working capital and other general corporate purposes, including to fund possible future capacity expansions. The Company will not receive any of the proceeds from the sale of common stock by the selling stockholders.
When available, a copy of the prospectus may be obtained by First Solar, Inc., 4050 East Cotton Center Boulevard, Building 6, Suite 68, Phoenix, Arizona 85040, Telephone (602) 414-9315.
The registration statement relating to these securities has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About First Solar:
First Solar, Inc. (Nasdaq:FSLR) manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.
The First Solar, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=3052