Solar Power, Inc.OTCQB
Nov. 30, 2015, 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.