The parties exercised their options to acquire a total of 7.5 million shares (the "Shares") of common stock of SPI for the total purchase price of US$15 million. The Shares are restricted securities and are subject to a three-month lock-up period. The Shares are being offered and sold solely to non-U.S. investors on a private placement basis in reliance on Regulation S promulgated under the U.S. Securities Act of 1933, as amended.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
