SPI Energy Shares Rise 10% After Promissory Note Issued to Streeterville Capital

By Chris Wack

SPI Energy Co. Ltd. shares were up 10% to $6.79 after the company said it issued a $4.21 million 10% convertible promissory note to Streeterville Capital LLC, a Utah limited liability company.

The company said the convertible promissory note, which was approved by SPI's board of directors, bears interest at the rate of 10% per annum and has a maturity date of Nov. 11, 2022.

All or any portion of the note is convertible into ordinary shares of SPI at a conversion price of $20 a share. The convertible promissory note was issued in a private placement.

Volume for the stock was 14.1 million shares at 12:25 p.m. EST, compared to its 65-day average volume of 721,000 shares.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

11-17-21 1246ET