Solar Power Inc. Completes $22 Million Offering of Stock, Bonds

Solar Power Inc., a renewable-power developer majority-owned by China’s LDK Solar Co., raised $22 million in a private placement of stock and convertible debt.

The company expects to use the proceeds for working capital and to pay down debt, Roseville, California-based SPI said today in a statement. Financial terms weren’t disclosed.

LDK owns about 71 percent of SPI, according to data compiled by Bloomberg.

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