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SPI Energy stock surged 20% in premarket trading as it Issued $4.21 Million 10% convertible promissory note with $20 per share conversion price.

SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors,nnounced that on November 12, 2021, it issued a $4.21 million 10% convertible promissory note to Streeterville Capital, LLC, a Utah limited liability company.

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 November 11, 2022. All or any portion of the note is convertible into ordinary shares of SPI at a conversion price of $20.00 per share. The convertible promissory note was issued in a private placement in reliance on Regulation D promulgated under the Securities Act of 1933, as amended.

About SPI Energy

SPI Energy Co., Ltd. (NASDAQ:SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and is headquartered in Santa Clara, California.

The company has three core divisions: SolarJuice residential solar, the commercial & utility solar division comprised of SPI Solar and Orange Power, and the EdisonFuture/Phoenix Motorcars EV division. SolarJuice is the leader in renewable energy system solutions for residential and small commercial markets and has extensive operations in the Asia Pacific and North America markets. The commercial & utility solar division provides a full spectrum of EPC services to third party project developers, and develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., U.K., and Europe. Phoenix Motorcars is a leader in medium-duty commercial electric vehicles, and is developing EV charger solutions, electric pickup trucks, electric scooters, electric forklifts, and other EV products.

SPI maintains global operations in North America, Australia, Asia and Europe and is also targeting strategic investment opportunities in fast growing green industries such as battery storage, charging stations, and other EVs which leverage the Company's expertise and substantial solar cash flow.