SPI Energy completes private placement of ordinary shares

SPI Energy announced the entry into of purchase agreements with COO of the Company and LDK New Energy Holding, an entity affiliated with the Company’s CEO, to issue and sell 1,150,000 ordinary shares of the Company to the Purchasers at a price of $1.01 per share, representing the closing price of the Company’s Ordinary Shares reported on Nasdaq on December 22, 2022, multiplying by 1.2 times, for a total consideration of approximately $1,161,500. In addition, the Purchasers are subject to a two years lock-up period after the closing of the Private Placement. The Private Placement has been consummated on December 22, 2022, upon satisfaction of customary closing conditions.