SAN JOSE, Calif., June 19, 2015 /PRNewswire/ -- 8point3 Energy
Partners LP ("8point3 Energy Partners"), a limited partnership
formed by First Solar, Inc. ("First Solar") (NASDAQ: FSLR) and
SunPower Corporation ("SunPower") (NASDAQ: SPWR) 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.
The offering will be made only by means of a prospectus. When
available, copies of the final prospectus related to the IPO may be
obtained from: Goldman, Sachs & Co., Attn: Prospectus
Department, 200 West Street, New York,
NY 10282 or by emailing prospectus-ny@ny.email.gs.com; or
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717,
telephone 800-831-9146.
The registration statement relating to the securities has been
declared effective by the Securities and Exchange Commission (the
"SEC") on June 18, 2015. Copies of
the registration statement can be accessed through the SEC's
website at www.sec.gov. This news release does not constitute an
offer to sell or the solicitation of an offer to buy securities,
and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of that jurisdiction.
About 8point3 Energy Partners
8point3 Energy Partners is a growth-oriented limited partnership
formed by First Solar and SunPower to own, operate and acquire
solar energy generation projects. 8point3 Energy Partners' primary
objective is to generate predictable cash distributions that grow
at a sustainable rate. 8point3 Energy Partners intends to achieve
this objective by acquiring high-quality solar assets primarily
developed by First Solar and SunPower that generate long-term
contracted cash flows and serve utility, commercial and industrial
and residential customers in the United
States and other select markets, primarily within the
countries that comprise the Organization for Economic Co-operation
and Development.
Forward-Looking Statements
This news release includes forward-looking statements. Actual
events and results may differ materially from those projected. The
statements in this news release regarding the IPO, the use of
proceeds thereof, and other statements that are not historical
facts, are forward-looking statements. Each forward-looking
statement in this release speaks only as of the date of this
release. Factors that could cause actual events and results to
differ materially from those projected by forward-looking
statements include the inability to satisfy closing conditions of
the IPO and related transactions, either First Solar or SunPower
exercising its termination rights under the master formation
agreement related to 8point3 Energy Partners and other factors
discussed in the registration statement relating to the IPO filed
by 8point3 Energy Partners and the filings First Solar and SunPower
make with the SEC from time to time, including their most recent
respective reports on Form 10-K and 10-Q, particularly under the
heading "Risk Factors."
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SOURCE 8point3 Energy Partners LP