SPI Energy Disclosed The Sale Of 12 Million Shares Of Its Subsidiary, Phoenix Motor Inc, At $1.02 Per Share, Representing Transaction Value Of $12.24 Million
Portfolio Pulse from Benzinga Newsdesk
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced the sale of 12 million shares of its subsidiary, Phoenix Motor Inc. (NASDAQ:PEV), representing 56.36% of SPI's equity interest in Phoenix Motor. The transaction is valued at $12.24 million.
September 28, 2023 | 7:50 am
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Phoenix Motor Inc. has seen a significant change in its ownership structure, which could impact its stock price and future strategic decisions.
A significant change in ownership can impact a company's stock price and future strategic decisions. The new owners may have different strategic priorities, which could lead to changes in the company's direction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
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SPI Energy has sold a significant portion of its equity interest in Phoenix Motor, which could impact its financial position and stock price.
The sale of a significant equity interest in a subsidiary can have a substantial impact on a company's financial position and stock price. Investors may interpret this as a sign of financial distress or a strategic move, depending on the context.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100