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Table Of Contents

A. General Overview
B. Solyndra’s Product and Technology
C. Financing and Construction of Solyndra Manufacturing Facilities
E. The DOE Loan Guarantee and Construction of Fab 2
F. Solyndra’s Financial Performance
G. Solyndra’s Restructuring and Capital Raising Efforts in 2010
H. Events Leading to and Summary of February 2011 Restructuring
1. Tranche A Debt
I. Events Leading to Bankruptcy Filing
A. History
B. Design
C. Comparative Advantage
A. Impact of the Recession of 2008
B. Incentive Programs
1. Germany
2. Spain
3. Italy
C. Competition
1. Polysilicon (P-Si) Based Competitors
a. Polysilicon (P-Si) Supply
2. China Enters Market
D. Private Investment in the Solar Industry
A. Overview of Customer Agreements
B. Key Terms
C. Customer Agreements
1. Phoenix Solar AG
4. Carlisle Syntec, Incorporated
5. SunConnex B.V
6. EBITSCHenergietechnik GmbH
7. USE Umwelt Sonne Energie GmbH
8. Alwitra, GmbH
9. SunSystem, S.p.A
• Brief History of the DOE Loan Guarantee Program
A. Brief History of the DOE Loan Guarantee Program
1. Title XVII of the Energy Policy Act of 2005
2. 2006 Advanced Energy Initiative
3. The American Recovery and Reinvestment Act of 2009
4. Department of Energy Loan Guarantee Office
B. DOE Loan Guarantee Process
1. Application Submission
2. Initial Due Diligence and Term Sheet Negotiation
3. Credit Analysis and Review
4. Deal Approval
5. Final Due Diligence and Negotiation of Financing Documents
6. Closing
C. The “$535 Million” DOE Loan Guarantee
1. DOE Loan Guarantee Solicitation
2. Solyndra’s Pre-Application
3. Invitation to Submit Full Application
4. Submission of Full Application
a. Summary of Full Application
5. Revisions to Full Application
6. DOE Due Diligence Activities and Term Sheet Negotiations
7. Finalized Term Sheet and DOE Conditional Commitment
8. Loan Closing and Agreements
a. Key Terms of Loan as Executed in Loan Documents
b. Key Agreements and Documentation
D. Loan Funding and Reporting Requirements
1. Loan Funding Requirement
2. Financial Reporting Requirements
a. Quarterly Reporting
b. Annual Financial Statements and Reports
c. Periodic and Other Reporting
E. Construction and Loan Funding (Fab 2 Phase I)
1. Fab 2 Phase I Construction
a. Equipment Supply Agreement
b. Operations and Maintenance Agreement
F. Second DOE Loan Guarantee Application (Fab 2 Phase II)
1. Fab 2 – Phase II Loan Application Details
2. Construction Plans
3. Solyndra IPO
4. Third Party Consultants
a. Status of Application
G. February 2011 Loan Restructuring
1. Activities Leading up to Restructuring
2. Summary of Restructuring
a. Tranche A Debt
b. Tranche B Debt
the Tranche B Debt
c. Tranche C Debt
d. Tranche D Debt
e. Tranche E Debt
3. Summary of February 2011 Loan Restructuring Documentation
a. Key Agreements and Documentation
4. Modified Financial Reporting Requirements
a. Weekly Reporting
b. Monthly Reporting
c. Quarterly Reporting
d. Annual Reporting
A. Financial Analysis Recap
1. Fiscal Years 2005 through 2008 – Prior to DOE Loan Guarantee Facility
a. Recap of Operations for Fiscal Year 2005
b. Recap of Operations for Fiscal Year 2006
c. Recap of Operations for Fiscal Year 2007
d. Recap of Operations for Fiscal Year 2008
a. Recap of Operations for Fiscal Year 2009
b. Recap of Operations for Fiscal Year 2010
c. Recap of Operations for Fiscal Years 2005 - 2011
B. Summary of Quarterly Reports Provided to the DOE
1. Quarterly Financial Results Reported to the DOE
A. Key Metrics in Forecasts & Plans
B. Risks Facing Solyndra
C. Impact of Risks on Solyndra’s Forecasts and Plans
D. Comparison of Forecast and Historical Financial Results
a. Revenue Results
b. ASP Results
c. Average Watt Per Panel Results
d. Panels Produced Results
e. Summary of Sponsor Forecast Results
3. Forecast #3 - Consolidation Plan – October 2010 (“Consolidation Plan”)
4. Forecast #4 - Restructuring Plan – February 2011
A. Sources
1. Collections of Accounts Receivable
2. Sale of Preferred Stock
3. DOE Loan Guarantee
4. Convertible Secured Promissory Notes (Tranche E)
5. Tranche A Debt
B. Uses:
1. Property, Plant & Equipment Fab 2 Phase I
2. Property, Plant & Equipment Fab 1
3. Payroll
4. Direct Materials
5. Professional Services
6. Other Uses
A. Annual Payroll
Annual Payroll
B. Compensation to Senior Managers
C. Solyndra Headcount and Average Compensation by Year
D. Labor Statistics of California and Local Counties
E. Staffing Companies and Temporary Labor
F. Executive Incentive Plan (“EIP”) & Key Contributor Incentive Plan (“KCIP”)
G. CIGS / System Tech Incentive Program
H. Cash Bonus Program
I. Core Retention Bonus Program
J. Bonus Summary
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Published by Abdullah Kaya

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Published by: Abdullah Kaya on Nov 01, 2012
Copyright:Attribution Non-commercial


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