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Tag: SPI Energy Co

  • SPI Energy (NASDAQ: SPI) Announces Plan To Spin Off Solar Juice

    SPI Energy (NASDAQ: SPI) Announces Plan To Spin Off Solar Juice

    SPI Energy Co, Ltd. (NASDAQ: SPI) has announced that it has received the approval of the Boards of Directors of the Company to spin-off its Solar Juice Co., Ltd. unit through an initial public offering. It has revealed that it will maintain its majority ownership of Solar Juice after the spin-off.

    The company believed that if the spin-off will be successful it will be able to open the door of new growth. Solar Juice is the leader in the Asia Pacific market and best known for selling solar panels, EV charger, Solar system, and renewable energy solution for the residential and commercial markets.

    SPI Energy Co, Ltd has also dislcosed that it has completed the settlement with the minority stockholders of Solar Juice Australia. After the settlement, the lawsuit has been dismissed.

    SPI has earlier revealed in the Annual Report on Form 20-F, in May 2020, Solar Juice Co. Ltd that it has started legal action against its other shareholders and some of its other directors and claimed directors and against Solar Juice Australia together with Mr. Kun Fong Lee and Mr. Jinhan Zhou.

    The proceedings have been pursued in the Federal court of Austalia as plaintiffs by SPI. The complaint has been lodged against the new rights issues handled by Solar Juice Australia and against the appointment of an additional director after removing Mr. Kun Fong Lee and Mr. Jinhan Zhou as directors.  The Federal Court of Australia has ordered that the new appointment orders are invalid.

    SPI Energy Co, Ltd. (NASDAQ: SPI)  shares were trading up 16.12% at $9.22 at the time of writing on Tuesday. It had a trading volume of 10.29 million as compared to the average volume of 8.93 million. SPI Energy Co, Ltd. (SPI) share price went from a low point around $0.55 to briefly over $46.67 in the past 52 weeks. It has moved up 1576.36% from its 52-weeks low and moved down -80.24% from its 52-weeks high. SPI market cap has remained high, hitting $139.11 Million at the time of writing.

     

  • Stocks to Watch as Unemployment Numbers Tank Markets

    Stocks to Watch as Unemployment Numbers Tank Markets

    SPI Energy Co., Ltd. [NASDAQ: SPI]

    SPI Energy Co., Ltd., a world renewable energy company, and a manufacturer of electric vehicles and photovoltaic solutions for residential, business, logistics, government and utility clients announced today that its fully owned subsidiary, EdisonFuture will be signing a strategic cooperation framework agreement with China’s leading manufacturer of all-electric motor vehicles Tongjia. According to the agreement terms and conditions, the two signatories will work together to design, develop, produce and sell a new generation of smart electric logistics vehicles and electric trucks. Tongjia will be supplying parts to the EdisonFuture assembly plant in California where the vehicles will be assembled. The assembly will also include the installation of software.

    Organogenesis Holdings Inc [NASDAQ: ORGO]

    Organogenesis Holdings Inc., a medical company whose focus is on the development, manufacture, and sale of advanced wound care as well as surgical and sports medicine products released today a preliminary report of their financial results for the three months ending September 30, 2020. According to the report, the company has recorded an increase in net revenue from $64.3 million to $99 million. Sale of Advanced Wound Care products, Surgical & Sports Medicine, and Puraply have recorded an increase in sales contributing to the net sales. In the coming financial year, the company expects a rise in revenue by about 19% to 20%, which will be about $311 and $314 million. Following these projections, the company expects to report an increase in GAAP net income as well as a positive EBITDA for the three months ending December 31, 2020.

    PREIT [NYSE: PEI]

    PREIT an international operator of retail and experiential destinations announced yesterday that it has sign agreements with more than 80% of its bank lenders in a move that will see the company secure $150 million to revamp its business and prolong its debt maturity schedule. This loan will go into expanding the company’s operations and executing planned strategic activities.  The company’s Chief Executive Officer Joseph Coradino said that they have been repositioning their business to strengthen their capital base by actively selling some of their assets and diversifying their tenant base in a bid to get more capital. They have now managed to secure the $150 million that will see them revamp their business and have financial flexibility.