SHANGHAI — Solar Power announced that Brilliant King Group Ltd. and Poseidon Sports Limited have exercised their options to purchase shares of common stock in the Company in connection with the private placement option agreement each of them entered into with the Company on December 12, 2014, respectively.
The parties exercised their options to acquire a total of 7.5 million shares (the “Shares”) of common stock of SPI for the total purchase price of US$15 million.
The Shares are restricted securities and are subject to a three-month lock-up period. The Shares are being offered and sold solely to non-U.S. investors on a private placement basis in reliance on Regulation S promulgated under the U.S. Securities Act of 1933, as amended.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
About Solar Power, Inc. (OTCBB: SOPW)
Solar Power, Inc. (“SPI” or the “Company”) is a global provider of 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 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, 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.