Simpson Thacher Represents Underwriter in Debut Secondary Offering of Common Stock of First Solar
09.21.20
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Simpson Thacher represented Morgan Stanley & Co. LLC, as underwriter, in connection with a secondary offering by Lukas T. Walton (the “Selling Stockholder”) of 8,649,074 shares of common stock of First Solar, Inc. (“First Solar”). The offering raised approximately $592.4 million in gross proceeds for the Selling Stockholder. The offering represents the largest SEC registered block trade in the Power & Utilities sector in 2020 year-to-date.
First Solar is a leading global provider of comprehensive PV solar energy solutions and the world’s largest thin film PV solar module manufacturer.
The Simpson Thacher team for this transaction included David Azarkh and Ashley Yoon (Capital Markets); Jennifer Neilsson (Executive Compensation and Employee Benefits); Jonathan Cantor and Edward Grais (Tax); Jennie Getsin (FINRA & Blue Sky); Mike Isby (Environmental); and Kate Mirino (IP).