SHANGHAI, January 31, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") solar developer, today announced the completion of its $70 million private placement, previously announced on December 15, 2014. The private placement consisted of $35 million of common stock sold at a purchase price of $2.00 per share and $35 million of convertible promissory notes.
Net proceeds from the sale of the common stock and convertible promissory notes are intended to be used for expansion of SPI's global PV project activities, the development of its energy internet businesses and general corporate purposes.
About Solar Power, Inc. (SOPW)
SPI Solar ("SPI" or the "Company") (Solar Power, Inc.) is a global leader in enabling solar photovoltaic ("PV") solutions for business, residential, government and utility customers and investors. SPI 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 also 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. The Company has its operating headquarters in Shanghai and global operations in Asia, Europe and North America.
For additional information visit: www.spisolar.com or www.solarbao.com.
Safe Harbor Statement:
This release contains certain "forward-looking statements" relating to the business of SPI, its subsidiaries and the solar industry, which can be identified by the use of forward-looking terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "expects" or similar expressions. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Among other things, the quotations from management in this press release contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including uncertainties regarding whether the transactions contemplated will be successfully completed. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
Contact:
Amy Liu, Solar Power, Inc. (800) 548-8767
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/spi-solar-announces-completion-of-70-million-private-placement-300028471.html
