SANTA CLARA, Calif. /ACCESSWIRE/April 11, 2022/ SPI Energy Co., Ltd., (NASDAQ: SPI) (the “Company”), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for commercial, residential customers and investors , Government, Logistics and Utilities, announced today that on April 8, 2022, it issued a $2.11 million 10% convertible promissory note to Streeterville Capital, LLC, a limited liability partnership of Utah.
The convertible promissory note, which has been approved by SPI’s Board of Directors, bears interest at the rate of 10% per annum and matures on April 7, 2023. All or part of the note is convertible into common shares of SPI at a conversion price of $20.00 per share. The convertible promissory note was issued pursuant to a private placement pursuant to Regulation D promulgated under the Securities Act of 1933, as amended.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the titles. laws of that jurisdiction.
Copies of the securities purchase agreement and the convertible promissory note relating to this financing may be obtained on the SEC’s website at www.sec.gov.
About SPI Energy
SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and is headquartered in Santa Clara, California. .
The company has three main divisions: SolarJuice residential solar, the commercial and utility solar division comprised of SPI Solar and Orange Power, and the EdisonFuture/Phoenix Motor EV division. SolarJuice is the leader in renewable energy system solutions for the residential and commercial markets and has extensive operations in the Asia-Pacific and North American markets. The Commercial and Utility Solar Division provides a full range of EPC services to third-party project developers, and develops, owns and operates solar projects that sell electricity to the grid in several regions, including the United States, the United Kingdom United and Europe. Phoenix Motor is a leader in medium-duty commercial electric vehicles and develops electric vehicle charger solutions, electric pickup trucks, electric forklifts and other electric vehicle products.
SPI maintains global operations in North America, Australia, Asia and Europe and also targets strategic investment opportunities in fast-growing green industries such as battery storage, charging stations and other vehicles that leverage the company’s expertise and substantial solar cash flow.
For more information about SPI Energy and its subsidiaries, the Company recommends that shareholders, investors and any other interested party read the Company’s public documents and press releases available in the Investor Relations section at www. SPIgroups.com or available at www.sec.gov.
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified by the use of words such as “may”, “could”, “will”, “intend”, “should”, “could”, “may”, “should”, “continue”, “expect”, “believe”, “anticipate”, “estimate”, “predict”, “prospects”, “potential”, “plan”, “seek” and similar expressions and variations or the negatives of these terms or other comparable terms terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the company’s current expectations and speak only as of the date of this release. Actual results may differ materially from the Company’s current expectations depending on a number of factors. These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors, including , but not limited to, pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing growth of the business and the other risks and uncertainties described in the “Risk Factors” section of the company’s annual report filed on Form 10-K filed with the Securities and Exchange Commission. Except as required by law, the Company assumes no responsibility to revise or update forward-looking statements.
SPI Energy Co., Ltd.
Email: [email protected]
RedChip Companies, Inc.
Phone: (407) 491-4498
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