SPI Energy Shares Higher

Shares of SPI Energy were up almost 10% Thursday morning after the company said it bought back preferred shares of EnSync (ESNC), a supplier of energy management systems.

Following the repurchase, the supplier of photovoltaic solutions said its SPI Solar unit holds 28,048 shares of EnSync series C preferred stock and a warrant to purchase 50 million ESNC shares. SPI Energy noted that the preferred stocks and warrant were originally acquired by SPI Solar from EnSync in July 2015.

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