Item 8.01 Other Events.
As previously disclosed in the Quarterly Report on Form 10-Q of Genie Energy
Ltd. (the "Company") for the quarter ended March 31, 2021, filed on May 7, 2021
with the Securities and Exchange Commission, on April 26, 2021, a subsidiary of
the Company entered into an Equity Purchase Agreement with Hanhwa Q Cells Japan
Co., Ltd. ("Hanhwa") providing for the sale of the equity interests in Genie
Japan to Hanhwa. The sale was consummated on May 10, 2021. Hanwha paid ¥570.0
million (equivalent to approximately $5.2 million on the closing date) and
assumed the obligation to repay Genie Japan's existing credit facility in an
amount of approximately ¥150.0 million (equivalent to approximately
$1.38 million on the closing date).
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