Sunedison Inc. (fka SUNEQ)

[FEED_THE_FOXES]

I didn't say "IPO". I said public offering. On a consolidated basis, TERP issued 18 million new shares and gave all the cash ($667MM) to SUNE in June. SUNE in turn is the guarantor of TERP's revolver which is why SUNE has pledged all of its shares in TERP to the DIP lenders. Whether SUNE or TERP issued the new shares is a distinction without a difference.