AI English summary of an SEC filing — figures as filed

First Solar said it entered into two separate Tax Credit Transfer Agreements with Visa Inc. on December 6, 2024, one Fixed and one Variable.

8-KEntry into a Material Definitive AgreementFiled Dec 12, 2024Period of report Dec 6, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

First Solar said it entered into two separate Tax Credit Transfer Agreements with Visa Inc. on December 6, 2024, one Fixed and one Variable.
The company agreed to sell Visa $645,000,000 of Section 45X advanced manufacturing production tax credits generated in 2024 from producing certain module components in the United States and selling those components to third parties, for a purchase price of $615,975,000.
The company said the Fixed agreement's purchase price is paid in two installments: the first $400,000,000 was paid on December 6, 2024, and the second $215,975,000 is due on December 30, 2024.
Under the Variable agreement, the company agreed to sell Visa up to $225,000,000 of additional tax credits from the same Eligible Transactions, priced at $0.955 per $1.00 of credits, with payment due on February 28, 2025.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Two Visa Tax Credit Transfer Agreements

First Solar said it entered into two separate Tax Credit Transfer Agreements with Visa Inc. on December 6, 2024, one Fixed and one Variable.

Source · Based on the filing body and exhibits

Fixed agreement: $645,000,000 in credits sold for $615,975,000

The company agreed to sell Visa $645,000,000 of Section 45X advanced manufacturing production tax credits generated in 2024 from producing certain module components in the United States and selling those components to third parties, for a purchase price of $615,975,000.

Source · Based on the filing body and exhibits

Fixed agreement price paid in two installments

The company said the Fixed agreement's purchase price is paid in two installments: the first $400,000,000 was paid on December 6, 2024, and the second $215,975,000 is due on December 30, 2024.

Source · Based on the filing body and exhibits

Variable agreement: up to $225,000,000, $0.955 per $1.00 in credits

Under the Variable agreement, the company agreed to sell Visa up to $225,000,000 of additional tax credits from the same Eligible Transactions, priced at $0.955 per $1.00 of credits, with payment due on February 28, 2025.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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