Share options for Solar Power Inc. exercised by Brilliant King Group, Poseidon Sports
Solar Power Inc. (SPI) is a global provider of photovoltaic solutions for business, residential, government and utility customers and investors, with a focus 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. This week, SPI announced that Brilliant King Group Ltd. and Poseidon Sports Limited 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 Dec. 12, 2014, respectively.
The parties exercised their options to acquire a total of 7.5 million shares of common stock of SPI for the total purchase price of $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.
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