The shares will be sold to “non-US investors”. SPI trades its shares over the counter, meaning there is no oversight by a formal stock exchange.
The announcement comes amid a flurry of recent news from the developer, including finalizing a separate $21.75m share placement, and announcing plans to sell a 50MW pre-construction project in China.
SPI was acquired by vertically integrated PV manufacturer LDK Solar in 2011, at a time when many of LDK’s rivals were pushing into project development and EPC work.
