News Column

BRIEF: Roseville's SPI Solar aims to raise $25 million in private stock offering

July 29, 2014

By Mark Glover, The Sacramento Bee

July 29--SPI Solar, a Roseville-based solar-energy developer, announced an agreement Tuesdayto sell $25 million of common stock shares in a private placement.

The company said it will use the proceeds to expand its international activities, ramp up its solar program for residential and small business customers and pay down debt.

Under terms of the agreement executed last week, SPI Solar will sell more than 92 million shares of common stock at a price of 27 cents per share. The shares are being offered and sold solely to non-U.S. investors in a private offering.

SPI said it anticipates the shares sale will close within two months, subject to closing conditions.

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Source: Sacramento Bee (CA)

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