8point3 Energy reports plans to price initial public offering of stock

Bookrunners Goldman, Sachs, Citigroup raise funds for general purposes

By Devika Patel

Knoxville, Tenn., March 10 – 8point3 Energy Partners LP will conduct an initial public offering of class A stock with a 30-day greenshoe, according to a Form S-1 filed Tuesday with the Securities and Exchange Commission. The company has registered up to $50 million of stock.

Goldman, Sachs & Co. and Citigroup are the bookrunners.

Proceeds will be used to purchase common units from 8point3 Operating Co., LLC, make cash distributions and for general purposes.

The solar energy company is based in San Jose, Calif. It is a limited partnership formed by First Solar, Inc. and SunPower Corp. to own and operate a portfolio of selected solar generation assets. The company expects its shares will trade on the Nasdaq.

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