NEW DELHI--(BUSINESS WIRE)--
Azure Power (NYSE: AZRE), one of India’s leading independent solar power
producers, announced that the underwriters of its previously announced
follow-on public offering of equity shares have exercised their option
to purchase 115,542 additional equity shares. The option was granted in
connection with the follow-on public offering of 14,800,000 equity
shares at a public offering price of $12.50 per share. The exercise of
the option brings the expected total net proceeds from the follow-on
public offering to approximately $184.3 million after underwriting
discounts and commissions but before offering expenses.
A registration statement on Form F-3 was previously filed with the U.S.
Securities and Exchange Commission (“SEC”) and has been declared
effective. A prospectus supplement and the accompanying base prospectus
describing the terms of the Offering have been filed with the SEC. The
final prospectus supplement for the Offering has been filed with the
SEC. The Offering is being made only by means of the prospectus
supplement and the accompanying base prospectus. Before you invest, you
should read the prospectus supplement and the accompanying base
prospectus and other documents that the Company has filed with the SEC
for more complete information about the Company and the Offering. You
may obtain these documents free of charge by visiting EDGAR on the SEC
website at www.sec.gov.
Alternatively, a copy of the prospectus supplement and the accompanying
base prospectus may be obtained from Credit Suisse Securities (USA) LLC,
Attention: Credit Suisse Prospectus Department, One Madison Avenue, New
York, NY 10010, telephone: 1-800-221-1037, or e-mail: [email protected];
Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or
email: [email protected];
and HSBC Securities (USA) Inc., Attention: Prospectus Department, 452
Fifth Avenue, New York, NY 10018, telephone: 1-877-429-7459, or e-mail: [email protected].
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. This press release contains information about the pending
Offering of the Company’s equity shares, and there can be no assurance
that the Offering will be completed.
About Azure Power
Azure Power (NYSE: AZRE) is a leading independent solar power producer
with a pan-Indian portfolio of over 3 gigawatts. With its in-house
engineering, procurement and construction expertise and advanced
in-house operations and maintenance capability, Azure Power provides
low-cost and reliable solar power solutions to customers throughout
India. It has developed, constructed and operated solar projects of
varying sizes, from utility scale, rooftop to mini & micro grids, since
its inception in 2008. Highlights include the construction of India’s
first private utility scale solar PV power plant in 2009 and the
implementation of the first MW scale rooftop project under the smart
city initiative in 2013.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995. The
risks and uncertainties that could cause the Company’s results to differ
materially from those expressed or implied by such forward-looking
statements include: the availability of additional financing on
acceptable terms; changes in the commercial and retail prices of
traditional utility generated electricity; changes in tariffs at which
long term PPAs are entered into; changes in policies and regulations
including net metering and interconnection limits or caps; the
availability of rebates, tax credits and other incentives; the
availability of solar panels and other raw materials; its limited
operating history, particularly as a new public company; its ability to
attract and retain its relationships with third parties, including its
solar partners; its ability to meet the covenants in its debt
facilities; meteorological conditions and such other risks identified in
the registration statements and reports that the Company has filed with
the SEC from time to time. In the press release, megawatts portfolio
represents the aggregate megawatt capacity of solar power plants
pursuant to PPAs, signed or allotted or where the Company has been
cleared as one of the winning bidders or won reverse auction, but yet to
receive letter of allotment. All forward-looking statements in this
press release are based on information available to us as of the date
hereof, and the Company assumes no obligation to update these
forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181107005213/en/
Investor Contact
Nathan Judge, CFA
[email protected]
Investor
Relations, Azure Power
or
Media Contact
Samitla
Subba
[email protected]
+91-11-
4940 9854
Marketing, Azure Power
Source: Azure Power Global Ltd
