SPI Energy Co., Ltd. Provides an Update on December 2014 Convertible Bond Financing
February 14 2017 - 08:30AM
SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (NASDAQ:SPI),
a global clean energy market place for business, residential,
government and utility customers and investors, today announced
that it entered into an amendment agreement in connection with the
Company’s convertible bond financing announced in December 2014.
On December 15, 2014, the Company announced that
it had entered into a definitive agreement with Union Sky Holdings
Group Limited pursuant to which the Company issued a convertible
promissory note with a principal amount of US$20 million to a
special purpose vehicle of the investor (the “SPV”) in December
2014 with a maturity date of June 28, 2016. The Company has
not made any repayment on that note as of the date hereof. As
a result, the Company entered into an amendment agreement with the
SPV to extend the maturity date of the note, pursuant to which
agreement the repayment of US$6.6 million, US$6.7 million and
US$6.7 million of the principal amount of the note will be due by
April 2017, January 2018 and January 2019, respectively. The
SPV has the option to convert the outstanding amounts under the
note into equity interest in the Company at a conversion price per
ordinary share that equals the weighted average daily closing price
of the Company’s American depositary shares from January 30, 2016
to February 10, 2016.
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, please visit: www.spisolar.com,
www.solarbao.com or www.solartao.com.
For investors and media inquiries please contact:
Investor Relations Department
SPI Energy Co., Ltd.
pearl.peng@spisolar.com
+86 21 8012 9135
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