Yesterday, 6:40 PM
- Solar Power Inc. (OTCQB:SOPW -2.1%) and SPI Energy (its wholly owned subsidiary) have gotten shareholder approval for a merger and reorganization of the company in the Cayman Islands.
- The deal should be effective Dec. 31. SPI Energy will become the parent company of the SPI group of companies.
- The firm expects that SPI Energy will list American Depositary Shares on OTC markets as a foreign private issuer as of Jan. 4.
- For every 10 shares issued and outstanding in SOPW acquired before 3 p.m. ET Nov. 5 will be converted into a right to receive one ADS, while shares acquired after that time will receive SPI Energy ordinary shares.
Solar Power, Inc. ("SPI") and its subsidiaries (collectively the "Company") is a provider of PV solutions for business, residential, government and utility customers and investors. The Company provides a full spectrum of EPC services to third party project developers, as well as develop, own and... More
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