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Canadian Solar Inc. Announces US$200 Million Private Placement of Secured Convertible Notes with PAG

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GUELPH, ON, Aug. 19, 2024 /PRNewswire/ — Canadian Solar Inc. (the “Company” or “Canadian Solar”) (Nasdaq: CSIQ) today announced that it has entered into a definitive agreement with PAG, a leading investment firm in Asia Pacific, pursuant to which PAG will subscribe for US$200 million in aggregate principal amount of convertible notes (the “Notes”) to be issued by the Company. The transaction is expected to close in the fourth quarter of 2024, subject to closing conditions. The Company will retain certain flexibility on draw downs, using the net proceeds to optimize its capital structure, repay certain other indebtedness and invest in solar development projects.

The Notes will bear an interest rate of 6% per annum, payable quarterly in arrears, and will mature on December 31, 2029. Holders of the Notes also have the right to require the Company to repurchase the Notes shortly after December 31, 2027. Subject to the terms of the Notes, the Notes may be convertible into the Company’s common shares at the holder’s option at an initial conversion price of US$18.20, which represents a premium of approximately 23.4% above the Company’s last reported stock price of US$14.75 per common share on the Nasdaq Global Select Market on August 16, 2024. The conversion rate will be subject to market customary adjustments. The Notes will be secured against certain pledges provided by the subsidiaries of the Company.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, said, “We are thrilled to partner with PAG, a seasoned investor in the solar industry. The Notes offer us a flexible financing solution that aligns with both our capital requirements and business objectives. This transaction paves the way for long-term strategic collaboration with PAG in solar and in clean energy.”

Dr. Weijian Shan, Executive Chairman of PAG, commented, “With two decades of experience in the solar industry, Canadian Solar has established a solid foundation as a globally leading solar player. Today, it is well-positioned for growth, propelled by its scaled module business, rapidly expanding energy storage segment, and renewable energy development platform. We are pleased to partner with Canadian Solar in the global clean energy transition.”

The issuance of the securities under such transaction is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”) in an offshore transaction in reliance upon Regulation S under the Securities Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

About Canadian Solar
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery energy storage solutions, and developer of utility-scale solar power and battery energy storage projects with a geographically diversified pipeline in various stages of development. Over the past 23 years, Canadian Solar has successfully delivered over 125 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built, and connected over 10 GWp of solar power projects and 3.3 GWh of battery energy storage projects across the world. Currently, the Company has over 1.2 GWp of solar power projects in operation, 6.5 GWp of projects under construction or in backlog (late-stage), and an additional 19.8 GWp of projects in advanced and early-stage pipeline. In addition, the Company has 600 MWh of battery energy storage projects in operation and a total battery energy storage project development pipeline of around 56 GWh, including approximately 4.3 GWh under construction or in backlog, and an additional 51.6 GWh at advanced and early-stage development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/ Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “believes,” “expects,” “anticipates,” “intends,” “estimates,” the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets, such as Japan, the U.S., China, Brazil and Europe; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance (“ESG”) requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; litigation and other risks as described in Canadian Solar’s filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 26, 2024. Although Canadian Solar believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

Canadian Solar Inc. Contact
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com

View original content:https://www.prnewswire.com/news-releases/canadian-solar-inc-announces-us200-million-private-placement-of-secured-convertible-notes-with-pag-302225225.html

SOURCE Canadian Solar Inc.

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Where’s the Best Deal on the Block? Realtor.com® Launches Dynamic Map Layers to Help Homebuyers Find It and So Much More

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Homebuyers can now visualize hyperlocal insights and broader neighborhood trends to find their perfect home

SANTA CLARA, Calif., Sept. 24, 2024 /PRNewswire/ — Today, Realtor.com® announced the launch of dynamic map layers, a set of new map-based search features that allow users to answer classic home-buying questions like “Is this house the best deal on the street?” and “Where can I find the newest homes in a neighborhood?” or “Where are houses selling for a lower price per sqft.?” Now, users can explore multiple ZIP codes and neighborhoods with one quick glance and use this information to find the home they want.

Dynamic map layers deliver a unique zoom and pan experience that shows real-time visualizations of property data and neighborhood insights all in one map. When applied, each layer illustrates search parameters through color shading that represents aggregated data including market trends for a specific area. The shading dynamically adjusts to the property level as the user zooms in, and gets broader as they zoom out, adapting to highlight different data at each zoom level. Users can apply different map layers and access unique Realtor.com® econometric data, like market hotness, to find the best home options based on what they’re looking for.

“Do you remember when you bought your first smartphone and how it completely changed how you use a phone? Dynamic map layers are going to change how people search for homes online,” said Mausam Bhatt, Chief Product and Technology Officer, Realtor.com®. “They are an entirely new pathway to home discovery that allows buyers to answer their most pressing questions with a look at a map. They present data in an interactive way that is easy to use, easy to understand, and easy to make the most informed decisions with – so users can confidently choose the place they call home.”

Seventy-one percent of real estate website/app users think that more visual or map-based features could help them learn more about properties and compare homes more easily, according to a recent survey conducted by Realtor.com®. Ninety percent stated they would value being able to search for “home size” and “home value” via a map on a real estate search sites.

Whether it’s someone with a limited budget searching for the best buy in a specific area; a buyer who wants to understand the market competition of a home in order to make the best offer; or, a buyer who is comparing multiple neighborhoods so they can decide where to invest, Realtor.com® users can dive deeper and explore homes with the following layer options:

Home Estimate – the home’s current estimated value, powered by RealEstimatesmEstimate/ sqft. – the home’s current estimate total value divided by its total square footage, powered by RealEstimatesmLot Size – the property’s parcel size as measured in acresLot Slope – the property parcel’s average lot slopeHome Size – the size of the home measured in sqft.Year Built – the year the home was builtMarket Hotness – an index from 1-100 (very cool to very hot) indicating how quickly homes sell and the level of buyer demandSold Price vs. List Price – the sold price shown as a percentage of the original list price (based on properties sold in the last year)Sold Price/ sqft. – the home’s most recent sale price divided by its total square footageDays on Market – the time it takes properties to sell (based on properties sold in the last year)Neighborhood – display neighborhood boundaries and access details on the number of homes on the market, the median number of days homes spend on the market and the median list price within a neighborhood

Dynamic map layers offer unparalleled data visualization with dynamic zoom and pan functionality. By using these layers, users can get an equally holistic and granular view of a home’s characteristics and a neighborhood’s attributes.

About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Media Contact
Asees Singh press@realtor.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/wheres-the-best-deal-on-the-block-realtorcom-launches-dynamic-map-layers-to-help-homebuyers-find-it-and-so-much-more-302256178.html

SOURCE realtor.com

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Socket Mobile Announces CaptureSDK Support for iOS 18

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FREMONT, Calif., Sept. 24, 2024 /PRNewswire/ — Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions designed to enhance workplace productivity, is excited to announce that CaptureSDK and its entire line of barcode scanners and NFC reader/writers have been thoroughly tested and have achieved full compatibility with iOS 18.

iOS 18 compatibility across the entire Socket Mobile product line ensures that Apple users can maximize the utility of both their Socket Mobile data readers and their Bluetooth-paired Apple iPhones or iPads. CaptureSDK’s support for iOS 18 means that business applications continue to run smoothly on Apple’s latest platform, offering stability, efficiency, and access to the newest features. Users can seamlessly integrate the latest Apple advancements into their workflow and expect optimal performance from both devices.

“Socket Mobile has a strong track record of maintaining compatibility with Apple’s latest advancements and is devoted to supporting our app developer partners. We strive to provide ultimate device compatibility and best-in-class development tools,” said Dave Holmes, Chief Business Officer at Socket Mobile. “With iOS 18 support added to CaptureSDK, all users of our data capture devices can stay current with Apple’s latest technology while discovering new ways to leverage the power and versatility of our barcode scanners and NFC reader/writers.

“To ensure compatibility and to take full advantage of the features offered by our barcode scanners and NFC reader/writers, app development partners only need to upgrade their apps to the latest version of CaptureSDK whenever new updates are released. Our world-class support team is always available to ensure that their data capture solutions continue to work seamlessly. Combined with the quality of our products and dedicated support, this makes Socket Mobile’s CaptureSDK, along with our scanners and readers, an excellent choice for Apple device users.”

CaptureSDK has been integrated into thousands of applications and gives app providers reliable and consistent data capture performance, enabling their apps to efficiently capture data in the physical world. With CaptureSDK, app providers can maximize the value of their solution and increase their customer’s overall productivity and satisfaction. With CaptureSDK-enabled apps, end-users can interchange any of Socket Mobile’s data capture devices, resulting in the freedom to choose the best reader for each customer’s requirements at any given time. With iOS 18 compatibility, Socket’s CaptureSDK delivers a new level of control and adaptability for iOS app developers.

iOS compatibility will always be a focus for Socket Mobile as Apple continues to roll out new updates for its customers.

Learn More About CaptureSDK

Media Contact: David Holmes, David.holmes@socketmobile.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/socket-mobile-announces-capturesdk-support-for-ios-18-302256524.html

SOURCE Socket Mobile, Inc.

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JinkoSolar Unveils its First Climate White Paper at 2024 New York Climate Week

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SHANGRAO, China, Sept. 24, 2024 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its principle operating subsidiary Jinko Solar Co., Ltd.’s participation in the 2024 New York Climate Week, where we officially launch the English version of our first Climate White Paper*. This comprehensive report outlines our commitment to sustainability, innovative strategies to reduce carbon emissions, and actionable steps for creating a greener, more resilient future.

As one of the leading voices in the fight against climate change, JinkoSolar has long been dedicated to aligning its operations with global climate goals. The new White Paper not only highlights the progress we’ve made, but also identifies new opportunities in both the PV and BESS sectors to collaborate across industries to accelerate decarbonization and enhance sustainability efforts.

Meanwhile, Jinko Solar Co., Ltd. as a member of the Board of Directors of the Global Solar Council, is honored to be part of the Finance Roundtable and, together with the Global Solar Council, co-hosting the discussion for lowering solar PV cost. This roundtable brings together development and commercial banks, industry experts, policymakers, and business leaders in shaping the future of climate action. Our active participation underscores our firm belief that addressing the climate crisis requires bold and decisive action together with financial players.

JinkoSolar looks forward to continuing its leadership in the bankability and sustainability space and to driving meaningful change in the global effort to combat climate change.

*Note: Disclosed information in the report covers our principal operating subsidiary Jinko Solar Co., Ltd. and its subsidiaries. The report is available on the Company’s website at https://www.jinkosolar.com/en/site/responsibility.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions. 

JinkoSolar had over 10 productions facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2024.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

View original content:https://www.prnewswire.com/news-releases/jinkosolar-unveils-its-first-climate-white-paper-at-2024-new-york-climate-week-302256888.html

SOURCE JinkoSolar Holding Co., Ltd.

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