SPI Energy Co., Ltd. Enters into Share Purchase Agreements for $7.6 Million Private Placement
January 17 2019 - 4:30AM
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI),
a global provider of renewable energy solutions and crypto-miner
hosting services for residential, commercial and utility customers,
today announced the entry into share purchase agreements ("the
Agreements") with certain existing shareholders (including certain
key management personnel of the Company) and other investors
(collectively, the "Purchasers"), to purchase an aggregate of
6,600,000 ordinary shares of the Company (the "Shares") at a price
of US$1.16 per Share, for a total consideration of approximately
US$7.6 million. The outside closing date is April 14, 2018.
The Shares are being offered and sold solely to
non-U.S. investors, on a private placement basis in reliance on
Regulation S promulgated under the U.S. Securities Act of 1933, as
amended. The completion of the above transaction is subject to the
satisfaction of customary closing conditions. The Purchasers are
subject to a 90-day lock-up period beginning on the closing
date.
The ordinary shares have not been and will not
be registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or
an applicable exemption from registration.
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.
Net proceeds from the above transaction are
intended to be used for expansion of SPI Energy's global PV project
activities and general corporate purposes.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of
renewable energy solutions and crypto-miner hosting services for
residential, commercial and utility customers. SPI Energy focuses
on the EPC/BT, and storage markets including the development,
financing, installation, operation and sale of utility-scale and
residential PV projects in Japan, Europe and North America. The
company operates a B2B E-Commerce platform offering a range of PV,
storage products in Australia as well as a turnkey solution
(umining.io) offering global crypto-mining training, sale, hosting
and repair service. The Company has its operating headquarters in
Hong Kong and Santa Clara, California and maintains global
operations in Asia, Europe, North America and Australia.
For additional information, please visit:
http://www.spigroups.com/investorrelations/overview
For investors and media inquiries please
contact:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com
Source: SPI Energy Co., Ltd.
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