---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-004675"
form_type: "8-K/A"
ticker: "SPRU"
cik: "0001772720"
company_name: "SPRUCE POWER HOLDING CORP"
filed_at: "2025-02-10T23:59:59+00:00"
generated_at: "2026-05-27T00:27:21.593667+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Spruce Power files audited FY2024 revenue of $31.9M for acquired 9,800-system NJ solar portfolio

## Summary
- Acquired ~9,800 residential solar systems from NJR Clean Energy Ventures for $132.5M cash; financed with $22.2M cash and $109.8M term loan.
- Portfolio generated $31.9M revenue in FY ended Sept 30, 2024; revenues less direct expenses of $19.0M (FY2023: $18.5M).
- Net assets acquired as of Sept 30, 2024: $69.4M; total assets $70.4M; ARO liabilities $1.0M.
- Additional up to 200 solar assets may be acquired post-closing; 41 acquired on Jan 29, 2025.
- NJR will lease back systems under 5 years old; SREC sale agreement with NJR subsidiary through May 2026.

## SEC filing metadata
- accession: 0001628280-25-004675
- form_type: 8-K/A
- ticker: SPRU
- cik: 0001772720
- company_name: SPRUCE POWER HOLDING CORP
- filed_at: 2025-02-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1772720/000162828025004675/0001628280-25-004675-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772720/000162828025004675/spru-20241122.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-004675
- JSON: https://secwatch.observer/filing/0001628280-25-004675.json
- Plain text: https://secwatch.observer/filing/0001628280-25-004675.txt

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