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RELATED PARTY
12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
RELATED PARTY
RELATED PARTY
The Company sells products to SunPower under the August 2018 MSA. As of December 31, 2019 and 2018, SunPower via its wholly owned subsidiary, held 6.5 million shares and 7.5 million shares, respectively, of the Company’s common stock. Revenue recognized under the MSA for the years ended December 31, 2019 and 2018 was $70.9 million and $12.4 million, respectively, net of amortization of the customer relationship intangible asset (see Note 6. “Goodwill and Intangible Assets”). As of December 31, 2019 and 2018, the Company had accounts receivable of $15.9 million and $10.3 million, respectively, from SunPower. As of December 31, 2019, the Company received $5.2 million as a safe harbor prepayment from SunPower in the fourth quarter of 2019 for product delivered in the first quarter of 2020.
In 2018, a member of the Company’s board of directors and one of its principal stockholders, Thurman John Rodgers, purchased $5.0 million aggregate principal amount of the Notes due 2023 in a concurrent private placement. As of both December 31, 2019 and December 31, 2018, $5.0 million aggregate principal amount of the Notes due 2023 were outstanding. See Note 11. “Debt” for additional information related to this purchase.