In addition, the underwriters have a 30-day option to purchase up to an additional 3 million shares from 8point3 Energy Partners at the IPO price, less the underwriting discount. The shares of 8point3 Energy Partners are listed on the NASDAQ Global Select Market under the symbol "CAFD".
8point3 Energy Partners LP is a limited partnership formed by First Solar, Inc. and SunPower Corporation to own and operate a portfolio of selected solar energy generation assets. The firm intends to use all of the net proceeds of the IPO 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:
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.