SPI’s agreement with Shi Yuzhu, trend of the Chinese private placements for $ 140 million

Polaris solar PV net news: December 15, 2014, California Roseville,–SPISolar vertically integrated photovoltaic solar developers today announced that has amounted to US $ 140 million private placements, with Shi Yuzhu’s giant co and China Dongxiang group reached a definitive purchase agreement. Founded by Shi Yuzhu, giant is a leading online game developer and operator in China, China Dongxiang group is a leading international sportswear brand enterprises in China, listed its shares on the Hong Kong stock exchange trading.

According to the signing of a definitive agreement, SPI agreed to by Mr Shi Yuzhu, Chinese and other investors control the SPV (Special purposevehicles) redirect to issue $ 35 million in common shares and $ 35 million in convertible promissory notes, as well as controlled by Shi Yuzhu, Dongxiang, and other investors of SPV allocated 70 million dollars of common stock. According to United States securities law provisions relating to unregistered securities (s Ordinance), the private placing all to non-United States investors.

SPI expects once or the immunities of delivery conditions are met, all of the common shares and of convertible promissory notes sales will be completed within 10 days after the signing of the relevant protocols. SPI investors can complete common stock listed on the New York Stock Exchange or NASDAQ Exchange SPI common shares on or before the date of the purchase offer. According to the signing of a definitive agreement, the SPI ordinary shares issued are restricted securities, lock each investor receives a 3-month contract.

SPI, Chairman of LDK, said: “we are pleased to announce that investment agreements with Shi Yuzhu and China Dongxiang, which fully indicates their SPI and Outlook of the company was full of confidence. We are confident that the capital raised will help the company continue high growth trajectory, and ultimately beneficial to all the company’s shareholders.

This press release does not constitute a sale of SPI stock offer or request to purchase invitations, and under the securities laws of the relevant jurisdiction, in front of the register or qualify the jurisdiction over the illegal sale of such securities, these securities nor shall such jurisdiction to invite an offer to sell, purchase or sale.

The private placements of common shares and of convertible promissory notes net proceeds will be used to expand SPI’s photovoltaic project in the world, as well as for the company’s working capital.

Original title: SPI’s agreement with Shi Yuzhu, trend of the Chinese private placements for $ 140 million

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