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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NEGATIVE IMPACT
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
NEGATIVE IMPACT
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