SPI Energy Co. Ltd. agreed to sell $33.9 million worth of its ordinary shares under two share purchase agreements, according to an Oct. 12 release.

The private placement transactions will see Qian Kun Prosperous Times Investment Ltd. and Alpha Assai fund SP of Sunrise SPC purchase 80 million and 240 million ordinary shares of the company, respectively.

The transactions are subject to certain closing conditions, including a lock-up period of 90 days from the closing date of the transactions.