SPI Energy settles winding-up petition with Streeterville for $10.5M

SPI Energy Co., Ltd.

SPI agrees to pay $10.5M in staged payments through Dec 31, 2024 to settle $14.98M debt claim.
A $5M trigger payment is due by May 31, 2024 or within 5 days of SolarJuice IPO closing.
Five subsidiaries and CEO Xiaofeng Peng provide full or limited guarantees of the settlement payments.
Settlement requires dismissal of Streeterville's Cayman winding-up petition and SPI's California lawsuit.
Default allows Streeterville to resume winding-up proceedings and seek joint official liquidators.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SPI Energy Co., Ltd. entered into Deed of Settlement with Streeterville Capital, LLC valued at $10,500,000 repayment with staged payments by December 31, 2024 (effective 2024-03-06).

Action: entry
Agreement: settlement
Counterparty: Streeterville Capital, LLC
Value: $10,500,000 repayment with staged payments by December 31, 2024
Effective: 2024-03-06

Exact text from the filing

On March 6, 2024, SPI Energy Co., Ltd. (the “Company”) and Streeterville Capital, LLC (the “Petitioner”) entered into that certain Deed of Settlement (the “Settlement Agreement”), pursuant to which the Company would repay the total of $10,500,000 to the Petitioner no later than December 31, 2024 by way of a number of staged payments.

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Source: SEC EDGAR

accession 0001683168-24-001570

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