SPI - SPI Energy's Phoenix Motor files for U.S. IPO

SPI Energy (NASDAQ:SPI) +6.2% pre-market after its Phoenix Motor unit filed for an IPO in the U.S. with the Securities and Exchange Commission, becoming the latest seeking to cash in on the growing investor appetite for electric vehicles. The company's SEC filing indicates that it plans to raise $150M, although the figure often is used as a placeholder. SPI would still control Phoenix after the IPO, according to the filing. Phoenix plans to list its shares on the Nasdaq Capital Market under the symbol PEV. SPI Energy recently reported H1 gross profit more than doubled Y/Y to $7.4M.

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SPI Energy's Phoenix Motor files for U.S. IPO