- A new SEC team this year was tasked with reviewing Q2 filings to check compliance with new guidelines on use of non-standard financial metrics.
- First Solar (FSLR -4.8%) and SunPower's (SPWR -5.1%) 8Point3 Energy Partners (CAFD -0.1%) has the honor of being the first to receive a letter from that task force (it's yet to be made public).
- CAFD last month raised $102.6M from investors to acquire completed power plants from its parents, and it's the numbers in that prospectus that's caught the SEC's eye. In a late-July letter to the company, the SEC asked what was being left out of adjusted EBITDA numbers and its description of cash available to investors.
- Source: Marketwatch's Francine McKenna