Shareholder's Equity

9 Months Ended

Aug. 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 August 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 August 31, 2016, the following shares of the Partnership were outstanding:

	Number
Shares	Outstanding		Shareholder
Class A shares		20,018,276	Public
Class B shares		22,116,925	First Solar
Class B shares		28,883,075	SunPower
Total shares outstanding		71,018,276

On September 28, 2016 the Partnership sold in an underwritten registered public offering 8,050,000 Class A shares representing limited partner interests in the Partnership (the “Public Offering”).  Please read “—Note 15—Subsequent Events” for further details.

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 July 15, 2016, the Partnership paid its second quarter distribution of $4.7 million to Class A shareholders for the period from March 1, 2016 to May 31, 2016.