19 June 2015

8point3 Energy Partners prices IPO at $21 per share

8point3 Energy Partners LP - a limited partnership formed in March by telluride (CdTe) module maker First Solar Inc of Tempe, AZ, USA and solar panel and system maker SunPower Corp of San Jose, CA, USA to own, operate and acquire a portfolio of solar energy generation projects - has priced its initial public offering of 20 million Class A shares at a price of $21 per share.

In addition, the underwriters have a 30-day option to purchase up to an additional 3 million shares at the IPO price, minus the underwriting discount. The shares have begun trading on the NASDAQ Global Select Market under the symbol 'CAFD'.

8point3 Energy Partners intends to use the net proceeds to purchase the common units of 8point3 Operating Company LLC, the entity that holds 8point3 Energy Partners' project assets. 8point3 Operating Company intends to use the proceeds from the sale of its common units (i) to make a cash distribution to each of First Solar and SunPower and (ii) for general corporate purposes, including to fund future acquisition opportunities.

Goldman, Sachs & Co and Citigroup Global Markets Inc are acting as lead book running managers for the IPO. Deutsche Bank Securities Inc, J.P. Morgan Securities LLC and Credit Agricole Securities (USA) Inc are acting as joint book-running managers.

See related items:

8point3 Energy Partners commences IPO

First Solar and SunPower file for IPO of partnership 8point3

First Solar and SunPower to partner to form joint venture

Tags: First Solar Thin-film photovoltaic CdTe

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