By SAN JOSE, Calif. | 8point3 Energy Partners —
8point3 Energy Partners, a limited partnership formed by First Solar and SunPower to own and operate a portfolio of selected solar energy generation assets, announced today that it has priced an initial public offering (the “IPO”) of 20,000,000 Class A shares, representing limited partner interests in 8point3 Energy Partners (the “shares”), at a price of $21.00 per share.
In addition, the underwriters have a 30-day option to purchase up to an additional 3,000,000 shares from 8point3 Energy Partners at the IPO price, less the underwriting discount.
The shares of 8point3 Energy Partners will be listed on the NASDAQ Global Select Market under the symbol “CAFD” and begin trading on June 19, 2015.
8point3 Energy Partners intends to use all of the net proceeds of the IPO to purchase the common units of 8point3 Operating Company, LLC (“8point3 Operating Company”), 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 for the IPO.
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