SANTA CLARA, CALIFORNIA –November 4, 2020 – SPI Energy Co., Ltd., (NASDAQ: SPI) (the"Company"), a global renewable energy company and provider ofphotovoltaic (PV) and electric vehicle (EV) solutions for business,residential, government, logistics and utility customers and investors, todayannounced that on November 3, 2020, it issued a $2.1 million 10% convertiblepromissory note to Streeterville Capital, LLC, a Utah limited liabilitycompany.
The convertiblepromissory note, which was approved by SPI’s board of directors, bears interestat 10% and has a maturity date of November 2, 2021. All or any portion of thenote is convertible into shares of SPI common stock at $26.00 per share. Theconvertible promissory note was issued pursuant to Rule 506 under Regulation Dpromulgated under the Securities Act of 1933, as amended.
This press release doesnot constitute an offer to sell or the solicitation of an offer to buy, norwill there be any sales of these securities in any jurisdiction in which suchoffer, solicitation or sale would be unlawful prior to registration orqualification under the securities laws of such jurisdiction.
Copies of the securitiespurchase agreement and the convertible promissory note relating to thisfinancing can be obtained at the SEC's website at www.sec.gov.
SPI Energy Co., Ltd.(SPI) is a global renewable energy company and provider of photovoltaic (PV)and electric vehicle (EV) solutions for business, residential, government,logistics and utility customers and investors. The Company provides a fullspectrum of EPC services to third party project developers, as well as develops,owns and operates solar projects that sell electricity to the grid in multiplecountries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its headquarters in SantaClara, California and maintains global operations in Asia, Europe, NorthAmerica and Australia. SPI is also targeting strategic investment opportunitiesin green industries and/or industries, such as electric vehicles and chargingstations, leveraging the Company’s expertise and growing base of cash flow fromsolar projects and funding development of projects in agriculture (hemp,alfalfa, etc.) and other markets with significant growth potential.
SPI Energy Co., Ltd.