(JinkoSolar, 16.Dec.2020) — JinkoSolar Holding Co., Ltd. filed a prospectus supplement to sell up to an aggregate of $100,000,000 of its American depositary shares (ADSs), each representing four ordinary shares, through an at-the-market equity offering program. The ADSs will be offered through Credit Suisse and Barclays as sales agents.
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 on or through the New York Stock Exchange (NYSE) or other markets for its ADSs, sales made to or through market maker other than on an exchange, or otherwise in negotiated transactions at market prices prevailing at the time of sale or at negotiated prices, or as otherwise agreed with the sales agents.
JinkoSolar intends to use the net proceeds from the sales of its ADSs for its production capacity expansion and other general corporate purposes. The production capacity expansion will be conducted mainly through Jiangxi Jinko, a 73.3% owned subsidiary of the company in China, and therefore certain amount of the net proceeds from this offering will be transferred to Jiangxi Jinko in the form of intercompany loan. The intercompany loan will be made for up to three years at an interest rate equal to the then US dollar LIBOR for one-year term loans plus 200 basis points.
The ordinary shares represented by ADSs will be offered under the company’s shelf registration statement on Form F-3, which became effective on 16 December 2020. A prospectus supplement dated 16 December and a related base prospectus (included in the company’s shelf registration statement on Form F-3) describing the terms of the offering have been filed with the Securities and Exchange Commission (SEC). Investors are advised to read the prospectus supplement and the related base prospectus and other documents the company has filed with the SEC for more complete information about the company and the at-the-market offering.
A copy of the prospectus supplement and the related base prospectus may be obtained from: Credit Suisse Securities (USA) LLC.
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