HONG KONG and SANTA CLARA, California, March 23, 2020 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI), a global provider of green energy solutions for business, residential, government, utility customers, and investors, today announced that it repaid $150,000 to Iliad Research & Trading, L.P. (“Investor”) on March 19, 2020 related to a Security Purchase Agreement (“SPA”) from May 2019.
Under the terms of the original SPA, SPI Energy issued the Investor a Convertible Promissory Note dated May 28, 2019 in the principal amount of $1,331,500 (“Note”). With this latest payment, the Company has repaid $450,000 of the Note. The Investor may redeem up to $200,000.00 per calendar month of the remaining balance of the Note.
About SPI Energy Co., Ltd.
SPI Energy is a global provider of photovoltaic (“PV”) solutions for business, residential, government and utility customers and investors. The Company develops solar PV projects that are either sold to third party operators or owned and operated by the Company for selling of electricity to the grid in multiple countries in Asia, North America and Europe. The Company’s subsidiary in Australia primarily sells solar PV components to retail customers and solar project developers. The Company has its operating headquarter in Hong Kong and its U.S. office in Santa Clara, California. The Company maintains global operations in Asia, Europe, North America and Australia.
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SPI Energy Co., Ltd.