SPI Solar, a vertically integrated photovoltaic solar developer, announced the completion of the private placement of its common stock for an aggregate price of US$48.25 million, as previously announced on September 23, 2014.
Net proceeds from the sale of the shares are intended to be used for expansion of SPI’s global PV project activities, continued investment in ramping its YES!® Solar solution for the residential and small business segments and general corporate purposes.
