Canadian Solar offering prices at $34 per share

The shares will be available for purchase on or about next Tuesday, the company said.

The purchase price represents a 5 percent discount from Wednesday's $35.65 close.

The solar company, which is based in Ontario but operates in China, said earlier this week it would offer 3.5 million shares and give underwriters, Deutsche Bank Securities Inc. and Piper Jaffray & Co., a 30-day option to buy up to 525,000 in common shares.

Canadian Solar plans to use the proceeds from the offering for working capital, general corporate purposes and potential future acquisitions.

The stock fell $2.24, or 6.3 percent, to $33.41 in morning trading. Shares have ranged from $6.50 to $51.80 over the past year.