Solar Power, Inc. (OTCBB:SOPW), a vertically-integrated photovoltaic (“PV”) developer, today announced the exercise of an option to purchase from SPI Solar shares of its common stock by the lead investor in SPI’s $48.25-million private placement, which was announced on September 23, 2014. As a result, SPI Solar authorized and issued 17,200,000 shares of its common stock for an aggregate purchase price of U.S. $20,125,000. The shares are being offered and sold upon reliance of Regulation S promulgated under the Securities Act of 1933, as amended, and are exempt from registration.
Solar Power, Inc. is a vertically-integrated PV 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 PV energy facilities and turnkey residential solar solutions to its business, government and utility customers