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Note 19 - Subsequent Events
9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

19. Subsequent Events


On September 9, 2014, the Company and its wholly owned subsidiary, SPI China (HK) Limited, entered into a Share Sale and Purchase Agreement with Sinsin Europe Solar Asset Limited Partnership and Sinsin Solar Capital Limited Partnership to purchase all of their outstanding capital stock of Sinsin Renewable Investment Limited, a limited liability company registered in Malta (“Sinsin”). Sinsin is engaged in the development, acquisition, management, and/or operation of energy solutions, projects, plants, factories, warehouses, stores, and facilities dedicated to the production of alternative energy sources and the facilitation of the distribution, supply and sale of such alternative energy power, through a 26.57MW photovoltaic plant in Greece. The total purchase price for all of the outstanding capital of Sinsin to be paid by the Company will be $91,780,000. The transaction has not been closed as of date of this quarterly report on Form 10-Q. 


On September 22, 2014, the Company entered into two purchase agreements, whereby the Company agreed to issue 41,240,000 shares of its Common Stock to non-U.S. investors in a private placement, for an aggregate price of $48,250,800. The proceeds from this private placement were intended for general corporate purpose. The transaction was closed subsequent to September 30, 2014 and prior to date of this quarters report on Form 10-Q.


On October 7, 2014, the Company entered into two purchase agreements, pursuant to which the Company proposed to issue 21,739,500 shares and 10,000,000 shares, respectively, of its Common Stock to two non-U.S. investors in a private placement, for an aggregate price of $43,800,510. The proceeds from this private placement will be for general corporate purpose. The transactions have been closed prior to date of this quarterly report on Form 10-Q.


On October 22, 2014, the Company’s subsidiary in the PRC, SPI Solar Power Suzhou Co., Ltd. (“SPI Meitai Suzhou”) entered into a series of agreements, whereby the Company agreed to acquire the equity interest in three project companies owned by GD Solar Co., Ltd., a company incorporated under the laws of the PRC, for an aggregate price of $156.1 million, $16.3 million and $83.7 million, respectively. Part of the consideration is proposed to be paid with the Company’s shares of Common Stock, the number of which is to be determined by five-day average trading price of the Company’s ordinary shares immediately prior to closing of each relevant agreement. The transactions have not been closed as of date of this quarterly report on Form 10-Q.


On October 22, 2014, SPI Meitai Suzhou entered into two purchase framework agreements, whereby the Company agreed to acquire the 100% equity interest in a PRC company which has a pipeline of projects and certain project companies owned by this PRC company, for an aggregate purchase price of $16.3 million to be settled with the Company’s shares of Common Stock, 49% of which is proposed to be determined based on the closing trading price of the Company’s ordinary shares on October 22, 2014 and the remaining 51% of which is proposed to be determined by five-day average trading price of the Company’s ordinary shares immediately prior to closing of the acquisition, and an advance payment of $22.8 million, respectively.  The transactions have not been closed as of date of this quarterly report on Form 10-Q.


On October 28, 2014, the Company’s other wholly owned subsidiary in the PRC, Xinwei Solar Power Engineering (Suzhou) Co., Ltd. (“Xinwei Solar”) entered into a framework agreement, whereby Xinwei Solar agreed to acquire 100% equity interest in a PRC roofing solutions company, for an aggregate purchase price estimated at $53.7 million and to be determined upon closing of the acquisition, with such purchase price to be settled with shares of the Company’s Common Stock valued at $2.38 per share. The transaction has not been closed as of date of this quarterly report on Form 10-Q.