Form 8-K - Current report
November 08 2023 - 3:15PM
Edgar (US Regulatory)
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2023-10-02
2023-10-02
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United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
November 8, 2023 (October
2, 2023)
Date of Report (Date of earliest event reported)
SPI Energy
Co., Ltd.
(Exact Name of Registrant as Specified in its Charter)
Cayman Islands |
|
001-37678 |
|
20-4956638 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
4803
Urbani Ave.
McClellan
Park, CA |
|
95652 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (408) 919-8000
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act |
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
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Name of each exchange on which registered |
Ordinary Share |
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SPI |
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The NASDAQ Global Select Market |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
Petitioners SinSin Europe
Solar Asset Limited Partnership (“SinSin Europe”) and SinSin Solar Capital Limited Partnership (“SinSin Solar”)
(collectively, “Petitioners”) initiated an action before United States District Court Eastern District of California (the
“Court”) against SPI Energy Co. Ltd (“Respondent” or “SPI”) to confirm two arbitral awards (the “Awards”)
pursuant to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of June 10, 1958 (“New York Convention”),
as implemented by the Federal Arbitration Act (“FAA”). Petitioners also sought attorneys’ fees and an award of injunctive
relief in the form of a worldwide asset freeze to prevent Respondent from dissipating its assets.
On October 2, 2023, the
Court filed an order dated September 29, 2023 about the action. Pursuant to the order, (i) the Court granted the Petition for Confirmation
of Foreign Arbitral Awards in its entirety. Respondent shall pay Petitioners the amounts payable to Petitioners under the Awards, which
is no less than $60,349,486.13; subject to a continuing interest rate of six percent accruing from November 30, 2015 on half of the outstanding
balance owed under the parties’ Share Sale and Purchase Agreement dated September 6, 2014 (“SPA”) (€19,027,000),
and accruing from June 20, 2016 on the remaining half of the outstanding amount owed under the SPA (€19,027,000); (ii) Petitioners’
request for injunctive relief was denied by the Court without prejudice to renewal as necessary should Respondent fail to comply with
the Court’s orders; and (iii) Petitioners’ motion for an award of attorneys’ fees and costs was granted by the Court.
On October 2, 2023, the Court entered a judgement in accordance with such order.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SPI ENERGY CO., LTD. |
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November 8, 2023 |
By: |
/s/ Xiaofeng Peng |
|
|
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Xiaofeng Peng |
|
|
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Chief Executive Officer |
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