---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-049189"
form_type: "8-K"
ticker: "SPRU"
cik: "0001772720"
company_name: "SPRUCE POWER HOLDING CORP"
filed_at: "2024-11-26T23:59:59+00:00"
generated_at: "2026-05-29T17:58:11.621937+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Spruce Power acquires 9,800 residential solar systems for $132.5M, funded with cash and new $109.8M debt facility

## Summary
- Acquisition adds ~13% to total home solar assets and contracts, bringing total to ~85,000.
- Purchase price funded with $22.7M cash and proceeds from a $109.8M non-recourse credit facility from Santander.
- Portfolio expected to generate ~$7.0M levered cash flows in 12 months ending Sep 2025; ~$22.0M cumulative in FY2025-2027.
- Average remaining contract life over 11 years; Spruce receives customer payments and renewable energy credits effective Oct 1, 2024.
- Transaction solidifies Spruce as leading residential solar provider in New Jersey with ~16,000 customers in-state.

## SEC filing metadata
- accession: 0001628280-24-049189
- form_type: 8-K
- ticker: SPRU
- cik: 0001772720
- company_name: SPRUCE POWER HOLDING CORP
- filed_at: 2024-11-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.03, 2.01, 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1772720/000162828024049189/0001628280-24-049189-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772720/000162828024049189/spru-20241122.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-049189
- JSON: https://secwatch.observer/filing/0001628280-24-049189.json
- Plain text: https://secwatch.observer/filing/0001628280-24-049189.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.