SHANGHAI, Dec. 28, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI" or the "Company") (OTCBB: SOPW), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today 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; as well as www.solartao.com, 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.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of SPI, its subsidiaries and the solar industry, which can be identified by the use of forward-looking terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates," "expects" or similar expressions. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Among other things, the quotations from management in this press release contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risks and other factors detailed in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
Solar Power, Inc.
SOURCE Solar Power, Inc.