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SPI Energy Co., Ltd. (NASDAQ:SPI), a semiconductor and related devices manufacturer currently trading at $2.35 per share, has entered into a payment agreement with Streeterville Capital, LLC, according to a recent 8-K filing with the SEC. According to InvestingPro data, the company generated $5.5 billion in revenue over the last twelve months. The agreement, dated January 23, 2025, outlines a structured payment plan for a $2.1 million obligation due by June 30, 2025.
Under the terms of the agreement, SPI Energy will make staged payments to meet the $2.1 million trigger payment previously established. The agreement represents the fifth addendum to the original Deed of Settlement between the two parties, which dates back to March 6, 2024.
Should SPI Energy fail to make any of the scheduled payments on time, the company will incur a late fee of $1,000 per day until the payment is fully settled. This clause underscores the importance of adherence to the agreed-upon payment schedule for SPI Energy.
The specifics of the payment amounts and the exact dates of the staged payments were not disclosed in the filing. However, the 8-K filing includes the full text of the addendum, providing transparency regarding the terms agreed upon by both SPI Energy and Streeterville Capital.
SPI Energy’s business address is listed as 4803 Urbani Ave., McClellan Park, CA, with a business phone number of 408-919-8000. The company, formerly known as Solar Power, Inc., has undergone a name change since its inception, reflecting its evolving business focus.
The announcement of this agreement comes as part of SPI Energy’s ongoing financial disclosures and is based on a press release statement filed with the SEC. Investors and stakeholders in the semiconductor industry will be monitoring the company’s adherence to this new payment schedule as part of its financial management and obligations.
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