SPI and SPI Energy Complete Reorganization Merger

published: 2016-01-05 15:46 | editor: | category: News

Solar Power, Inc. (SPI) and SPI Energy Co., Ltd. (SPI Energy), jointly unveiled the merger (the Merger) to reorganize SPI as a Cayman Islands company has been completed.

Pursuant to the Second Amended and Restated Agreement and Plan of Merger and Reorganization, dated October 30, 2015, each ten issued and outstanding shares of SPI's common stock acquired prior to 3:00 P.M. EST, November 5, 2015 were converted into the right to receive one American depositary share ("ADS"), representing ten SPI Energy ordinary shares; and issued and outstanding shares of the common stock of SPI acquired after 3:00 P.M. EST, November 5, 2015 were converted into the right to receive SPI Energy ordinary shares. SPI Energy's ADSs will be quoted on the OTC Markets under the symbol "SRGYY" effective January 4, 2016.

SPI Energy is in the process of applying for listing of the ADSs on the Nasdaq Capital Market and expects to complete that process in early 2016.

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