SPI Energy Co., Ltd. (NasdaqGS:SPI) announced that it has entered into a securities purchase agreement with existing investor Streeterville Capital, LLC for private placement of a convertible promissory note for gross proceeds of $4,010,000 on June 9, 2021. The convertible promissory note bears an interest of 10%, maturity date of June 8, 2022 and is issued at an original issue discount of $200,000. All or any portion of the note is convertible into common shares of par value, $0.0001 at a price of $20 per share. The note is unsecured. The company has a right to prepay the note at an amount in cash equal to 115% multiplied by the portion of the outstanding balance. Beginning on the date that is 6 months from the purchase price date, lender shall have the right, exercisable at any time in its sole and absolute discretion, to redeem any portion of the note up to $700,000 per calendar month by providing borrower with a notice. The note was issued pursuant to Rule 506 under Regulation D promulgated under the Securities Act of 1933, as amended.