SHANGHAI, Sept. 28, 2016 /PRNewswire/ -- SPI Energy Co.,
Ltd. ("SPI Energy" or the "Company") (Nasdaq: SPI), a global
provider of photovoltaic (PV) solutions for business, residential,
government and utility customers and investors, today announced the
entry into of purchase agreements ("the Agreements") with certain
existing shareholders (including certain key management personnel
of the Company) and other investors (collectively, the
"Purchasers") to issue and sell ordinary shares of the Company (the
"Shares") to the Purchasers at a price of US$0.259 per Share (US$2.59 per ADS), for a total consideration of
approximately US$100 million (the
"Private Placement"). In addition, the Purchasers are subjected to
a 180 days lock-up period after the closing of the Private
Placement.
Net proceeds from the Private Placement are intended to be used
for expansion of SPI Energy's global PV project activities and
general corporate purposes.
The Private Placement is subject to the satisfaction of
customary closing conditions. The Purchasers have the right
to terminate the Agreements if the share issuances contemplated
under the respective Agreements have not been completed by
December 22, 2016.
The Company will grant to those investors options to purchase
ordinary shares at the same price within two years.
The Shares are being offered and sold solely to non-U.S.
persons, on a private placement basis in reliance upon Regulation S
promulgated under the U.S. Securities Act of 1933, as amended.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of SPI Energy, nor
shall there be any sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such jurisdiction.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV)
solutions for business, residential, government and utility
customers and investors. SPI Energy focuses on the downstream PV
market including the development, financing, installation,
operation and sale of utility-scale and residential solar power
projects in China, Japan, Europe
and North America. The Company
operates an innovative online energy e-commerce and investment
platform, www.solarbao.com, which enables individual and
institutional investors to purchase innovative PV-based investment
and other products; as well as www.solartao.com, a B2B e-commerce
platform offering a range of PV products for both upstream and
downstream suppliers and customers. The Company has its operating
headquarters in Shanghai and
maintains global operations in Asia, Europe,
North America and Australia.
For additional information visit: www.spisolar.com,
www.solarbao.com or www.solartao.com.
Safe Harbor Statement
This release contains certain "forward-looking statements."
These statements are forward-looking in nature and subject to risks
and uncertainties that may cause actual results to differ
materially. All forward-looking statements included in this release
are based upon information available to the Company as of the date
of this release, which may change, and the Company undertakes no
obligation to update or revise any forward-looking statements,
except as may be required under applicable securities law.
For investors and media inquiries please contact:
Investor Relations Department
SPI Energy Co., Ltd.
ir@spisolar.com
+86 21 8012 9135
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SOURCE SPI Energy