November 17, 2024 7:38 am
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First Solar brushes back TRC Capital Corp. mini tender

By Patrick O’Grady

Managing Editor, Phoenix Business Journal

TRCFirst Solar Inc is asking its shareholders to be wary of a mini-tender offer by TRC Capital Corp.

The company sent out a statement advising its shareholders to read the fine print on TRC’s offer, which has the company seeking to buy up about 2 million shares, or 2.3 percent of the Tempe-based solar manufacturer’s outstanding stock.

The biggest reason First Solar (Nasdaq:FSLR) is saying to take a closer look is that the tender offer is actually below the market price. The offer is $30 a share, and the stock was trading at $30.32 as of this morning.

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