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ROSEVILLE, Calif.—November 7, 2014 - SPI Solar ("SPI")(OTCBB: SOPW), a vertically integrated photovoltaic solar developer, today announced the completion of the private placement of its common stock for an aggregate price of $48.25 million, as previously announced on September 23, 2014.
Net proceeds from the sale of the shares are intended to be used for expansion of SPI's global PV project activities, continued investment in ramping its YES!® Solar solution for the residential and small business segments and general corporate purposes.
SPI Solar ("SPI") (Solar Power, Inc.) is a vertically integrated photovoltaic solar developer offering its own brand of high-quality, low-cost distributed generation and utility-scale solar energy facility development services. From project development, to project financing and to post-construction asset management, SPI delivers turnkey world-class photovoltaic solar energy facilities and turnkey residential solar solutions to its business, government and utility customers. For additional information visit: .
Safe Harbor Statement:
This release may contain certain "forward-looking statements" relating to the use of proceeds, business of SPI Solar, its subsidiaries and the solar industry, which can be identified by the use of forward-looking terminology such as "believes", "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. 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.
Amy Liu, Solar Power, Inc. (800) 548-8767