Shareholder's Equity

6 Months Ended

May 31, 2016

Stockholders Equity Note [Abstract]

Shareholders' Equity

Note 10. Shareholders’ Equity

On June 24, 2015, the Partnership completed its IPO by issuing 20,000,000 of its Class A shares representing limited partner interests in the Partnership to the public. As of May 31, 2016, the Partnership owned a 28.2% limited liability company interest in OpCo as well as a controlling noneconomic managing member interest in OpCo and the Sponsors collectively owned 51,000,000 Class B shares representing limited partner interests in the Partnership, and together, having owned a noncontrolling 71.8% limited liability company interest in OpCo. As of May 31, 2016, the following shares of the Partnership were outstanding:

	Number
Shares	Outstanding		Shareholder
Class A shares		20,014,658	Public
Class B shares		22,116,925	First Solar
Class B shares		28,883,075	SunPower
Total shares outstanding		71,014,658

Cash Distribution

The Partnership is required to distribute its available cash (as defined in the Partnership Agreement) to the holders of Class A shares each quarter as described in “Note 12. Shareholders’ Equity” of the 2015 10-K.  On April 14, 2016, the Partnership paid its first quarter distribution of $4.5 million to Class A shareholders for the period from December 1, 2015 to February 29, 2016.