S-8 1 sopw20150427_s8.htm FORM S-8 sopw20150427_s8.htm

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM S-8

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

 

Solar Power, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

 California

20-4956638

(State or other jurisdiction of 

(I.R.S. Employer

incorporation or organization) Identification No.)

 

 

                                                                

 3400 Douglas Boulevard, Suite 285

95661-3875

 Roseville, California

(Zip Code)

(Address of Principal Executive Offices)  

                                        

 

2006 Equity Incentive Plan

(Full title of the plan)

 

 

 

Min Xiahou, CEO

Solar Power, Inc.

3400 Douglas Boulevard, Suite 285

Roseville, California 95661-3875

(Name and address of agent for service)

 

 

(916) 770-8100

(Telephone number, including area code, of agent for service)

 

 
 

 

  

CALCULATION OF REGISTRATION FEE

 

 

Title of each class

of securities to be

registered

 

 

Amount to be registered

 

Proposed

maximum offering price

per share

 

Proposed

maximum

aggregate offering

price

 

 

Amount of

registration fee

 

Common Stock

underlying 2006 Equity Incentive Plan reserved for future issuance

 

 

52,106,374 (1) 

 

$2.005 (2)

 

$104,473,279.87 (2)

 

$12,139.80 (2)

 

(1) In addition, pursuant to Rule 416(c) under the Securities Act of 1933, this registration statement also covers an indeterminate amount of interests to be offered or sold pursuant to the employee benefit plan described herein.

(2) Calculated in accordance with Rule 457(h) under the Securities Act of 1933, as amended, solely for the purpose of calculating the registration fee, based on the average of the high and low prices per share of the common stock of the Registrant as reported on the OTCBB on May 1, 2015.

 

EXPLANATORY NOTE

 

Pursuant to General Instruction E to Form S-8 under the Securities Act of 1933 (the “Securities Act”), this Registration Statement is filed by Solar Power, Inc. (the “Registrant”) for the purpose of registering additional shares of Common Stock under the Registrant’s 2006 Equity Incentive Plan (the “Plan”). The Plan provides that the total number of shares of Common Stock reserved to be issued under the Plan will be equal to nine percent (9%) of the Registrant’s total number of outstanding shares of common stock. As of March 23, 2015, the Registrant had 601,181,944 shares of common stock outstanding. In accordance with the Plan, the Registrant shall reserve up to an additional 52,106,374 shares authorized for issuance under the Plan. Accordingly, this Registration Statement registers the 52,106,374 additional shares of Common Stock available for issuance under the Plan.

 

The shares of Common Stock registered pursuant to this Registration Statement are of the same class of securities as the 2,000,000 shares of Common Stock registered for issuance under the Plan pursuant to the currently effective Registration Statement on Form S-8 (Registration No. 333-147246) originally filed on November 9, 2007 (the “Original Registration Statement”). The contents of the Original Registration Statement, including any amendments thereto or filings incorporated therein, are incorporated herein by this reference. Any items in the Original Registration Statement not expressly changed hereby shall be as set forth in the Original Registration Statement.

 

 

 

PART I

 

INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS

 

Item 1. Plan Information.

 

Not filed as part of this Registration Statement pursuant to Note to Part I of Form S-8.

 

 
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Item 2. Registrant Information and Employee Plan Annual Information.

 

Not filed as part of this Registration Statement pursuant to Note to Part I of Form S-8.

 

PART II

 

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

 

Item 3. Incorporation of Documents by Reference.

 

The Registrant hereby incorporates by reference into this Registration Statement the following documents and information previously filed with the Securities and Exchange Commission (“Commission”):

 

 

(a)

The Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014.

 

 

(b)

All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), since the end of the fiscal year covered by the annual report referred to in (a) above.

 

 

(c)

All documents that we subsequently file under Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act before we file a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents, except as to specific sections of such statements as set forth therein. Unless expressly incorporated into this Registration Statement, a report furnished on Form 8-K prior or subsequent to the date hereof, shall not be incorporated by reference into this Registration Statement.

 

Any statement incorporated herein shall be deemed to be modified or superseded for the purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document that is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

 

 

Item 4. Description of Securities.

 

Not Applicable          

 

Item 5. Interests of Named Experts and Counsel.

 

Not Applicable

 

 
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Item 6. Indemnification of Directors and Officers.

 

Pursuant to Sections 204(a), 309 and 317 of the California Corporations Code, as amended, the Registrant has included in its Amended and Restated Articles of Incorporation,(the “Articles”) and Bylaws (the “Bylaws”) provisions regarding the indemnification of officers and directors of the Registrant. Section 4 of the Articles provides as follows: “The liability of the directors of this corporation for monetary damages shall be eliminated to the fullest extent permissible under California law. This corporation is also authorized, to the fullest extent permissible under California law, to indemnify its agents (as defined in Section 317 of the California Corporations Code), whether by by-law, agreement or otherwise, for breach of duty to this corporation and its shareholders in excess of that expressly permitted by Section 317 and to advance defense expenses to its agents in connection with such matters as they are incurred, subject to the limits on such excess indemnification set forth in Section 204 of the California Corporations Code. If, after the effective date of this Article, California law is amended in a manner which permits a corporation to limit the monetary or other liability of its directors or to authorize indemnification of, or advancement of such defense expenses to, its directors or other persons, in any such case to a greater extent than is permitted on such effective date, the references in this Article to "California law" shall to that extent be deemed to refer to California law as so amended.”

 

In addition, Section 2 of Article VII of the Bylaws provide that the corporation shall, to the maximum extent permitted by California law, have the power to indemnify each of its agents against expenses and shall have the power to advance to each such agent expenses incurred in defending any such proceeding to the maximum extent permitted by that law. Section 3 of Article VII of the Bylaws states that the corporation may, upon the resolution of the directors, purchase and maintain insurance on behalf of any agent of the corporation against any liability asserted against or incurred by the agent in such capacity or arising out of the agent's status as such, whether or not the corporation would have the power to indemnify the agent against such liability under the provisions of this Article VII.

 

 

Item 7. Exemption from Registration Claimed.

 

Not applicable.

 

Item 8. Exhibits.

 

Exhibit Number       Description of Exhibit
     
  4.1  2006 Equity Incentive Plan
     
  5.1 Opinion of Weintraub Tobin Chediak Coleman Grodin Law Corporation
     
  23.1 Consent of Weintraub Tobin Chediak Coleman Grodin Law Corporation (contained in Exhibit 5.1)
     
  23.2 Consent of KPMG Huazhen (SGP), Independent Registered Public Accounting Firm
     
 

24.1

Powers of Attorney (included in signature page to this Registration Statement).

 

 
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Item 9. Undertakings.

 

(a)     The undersigned Registrant hereby undertakes:

 

(1)     To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

 

(i)     To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933 (the “Securities Act”);

 

(ii) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement — notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set in the “Calculation of Registration Fee” table in this Registration Statement; and

 

(iii) To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement; provided, however, that paragraphs A(1)(i) and A(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

 

(2)     That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(3)     To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

 

(b)     The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(c)     Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant in the successful defense of any action, suit, or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

 

 
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SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Roseville, State of California.

 

 

Solar Power, Inc.

a California corporation

 

 

 

 

 

 

 

Dated: May 6, 2015       By:      /s/ Min Xiahou            
  Min Xiahou,  
  Chief Executive Officer and Director  
  (Principal Executive Officer)  
     
     
Dated: May 6, 2015       By:      /s/ Amy Jing Liu            
  Amy Jing Liu,  
 

Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)

     

 

 

POWER OF ATTORNEY

 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Amy Jing Liu, his or her attorneys-in-fact and agents, each with the power of substitution and resubstitution, for him or her and in his or her name, place or stead, in any and all capacities, to sign any amendments to this Registration Statement on Form S-8, and to file such amendments, together with exhibits and other documents in connection therewith, with the Securities and Exchange Commission, granting to each attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully as he or she might or could do in person, and ratifying and confirming all that the attorneys-in-fact and agents, or his or her substitute or substitutes, may do or cause to be done by virtue hereof.

 

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

 

 

 

Dated: May 6, 2015     

By:      /s/ Xiaofeng Peng     

 

 

Xiaofeng Peng,

 

 

Chairman

 

 

 

 

 

 

 

Dated: May 6, 2015     

By:      /s/ Min Xiahou          

 

 

Min Xiahou,

 

  Chief Executive Officer and Director  
     
     
Dated: May 6, 2015      By:      /s/ Amy Jing Liu            
  Amy Jing Liu,  
  Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)
     
     
Dated: May 6, 2015      By:       /s/ Lang Zhou       
  Lang Zhou,  
  Director  
     
     
Dated: May 6, 2015      By:      /s/ Dong Gang            
  Dong Gang  
  Director  
     
     
Dated: May 6, 2015      By:      /s/ Jeffrey Yunan Ren            
  Jeffrey Yunan Ren  
  Director  

 

 

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