SPI Energy enters into share purchase agreements with existing shareholders of over $57 Million

SPI Energy has announced its entry into share purchase agreements (SPA) with existing shareholders and certain members of its management team, to purchase an aggregate of 75,990,000 ordinary shares of the Company at a price of USD 0.759 per Share (USD 7.59 per ADS), for a total consideration of US$57.68 million.

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 and the Purchasers are subject to a one-year lock-up period.

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.