{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-22-056293","form_type":"8-K","ticker":"SPRU","cik":"0001772720","company_name":"SPRUCE POWER HOLDING CORP","filed_at":"2022-09-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:56.984399+00:00","generated_at":"2026-06-23T09:26:59.941641+00:00","sec_items":["1.01","2.03","5.02","2.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"XL Fleet completes acquisition of Spruce solar companies for ~$58M cash plus ~$542M debt","bullets":["Acquired 100% membership interests in three Spruce entities; largest private residential solar owner/operator with >52,000 subscribers.","Total consideration: ~$58M cash plus assumption of ~$542M in existing debt (aggregate borrowings ~$530.6M as of June 30, 2022).","Christian Fong appointed President and to Board; expected to become CEO by Feb 15, 2023; Eric Tech remains CEO until then.","Fong receives $650k base salary, target 100% bonus, and signing grant of 909,091 fully vested shares.","Assumed debt includes SVB term/LC facilities, KeyBank credit agreement, and mezzanine financing with $165.9M outstanding."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-22-056293","json":"https://secwatch.observer/filing/0001213900-22-056293.json","markdown":"https://secwatch.observer/filing/0001213900-22-056293.md","text":"https://secwatch.observer/filing/0001213900-22-056293.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1772720/000121390022056293/0001213900-22-056293-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1772720/000121390022056293/ea165764-8k_xlfleet.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-23T09:26:59.941641+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"87197f9df8","claim":"Christian Fong changed role as Chief Executive Officer at SPRUCE POWER HOLDING CORP.","evidence_excerpt":"expected to become the Registrant’s Chief Executive Officer on or prior to February 15, 2023","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1772720/000121390022056293/0001213900-22-056293-index.htm","confidence":0.9,"family_label":"Executive change","details":[{"label":"Action","value":"expected to become"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"b3c10d03ba","claim":"Christian Fong was appointed as President at SPRUCE POWER HOLDING CORP.","evidence_excerpt":"Christian Fong was appointed as the Registrant’s President","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1772720/000121390022056293/0001213900-22-056293-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"President"}],"fact_type":"executive_change"},{"claim_id":"ee0d45a8ee","claim":"Christian Fong was appointed as Director at SPRUCE POWER HOLDING CORP.","evidence_excerpt":"the Board appointed Mr. Fong to the Board as a Class C director","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1772720/000121390022056293/0001213900-22-056293-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}