An investigation on behalf of investors of 8point3 Energy Partners LP (NASDAQ: CAFD) in connection with the proposed takeover was announced and NASDAQ: CAFD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/19/2018 -- An investigation was announced concerning the takeover of 8point3 Energy Partners LP.
Investors who purchased shares of 8point3 Energy Partners LP (NASDAQ: CAFD) and currently hold any of those NASDAQ: CAFD shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of 8point3 Energy Partners LP breached their fiduciary duties owed to NASDAQ: CAFD investors in connection with the proposed acquisition.
On February 5, 2018, 8point3 Energy Partners LP (NASDAQ:CAFD) announced it has entered into an Agreement and Plan of Merger and Purchase Agreement (the "Merger Agreement") with CD Clean Energy and Infrastructure V JV, LLC, an investment fund managed by Capital Dynamics, Inc., and certain other co-investors (collectively, "Capital Dynamics"), pursuant to which Capital Dynamics will acquire 8point3 through an acquisition of 8point3 General Partner, LLC (the "General Partner"), the general partner of the Partnership (such transaction, the "GP Transfer"), all of the outstanding Class A shares in the Partnership and all of the outstanding common and subordinated units and incentive distribution rights in 8point3 Operating Company, LLC ("OpCo"), the Partnership's operating company (the "Proposed Transactions"). Pursuant to the Proposed Transactions, the Partnership's Class A shareholders and First Solar, Inc.(NASDAQ: FSLR) ("First Solar") and SunPower Corporation (NASDAQ: SPWR) ("SunPower" and, together with First Solar, the "Sponsors"), as holders of common and subordinated units in OpCo, will receive $12.35 per share or per unit in cash, plus a preset daily amount representing cash expected to be generated from December 1, 2017 through closing less any distributions received after the execution of the Merger Agreement and prior to closing.
However, the investigation concerns whether the offer is unfair to 8point3 Energy Partners LP (NASDAQ: CAFD stockholders. More specifically, the investigation concerns whether the 8point3 Energy Partners LP (NASDAQ: CAFD Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On April 18, 2018, NASDAQ: CAFD shares closed at $12.04 per share.
Those who are current investors in 8point3 Energy Partners LP (NASDAQ: CAFD) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
For more information on this press release visit:
Media Relations Contact
Email: Click to Email Michael Daniels