Filing Details

Accession Number:
0000899243-16-032980
Form Type:
4
Zero Holdings:
No
Publication Time:
2016-11-09 07:18:39
Reporting Period:
2016-11-07
Filing Date:
2016-11-09
Accepted Time:
2016-11-09 07:18:39
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1140310 Ensync Inc. ESNC Electric Services (4911) 391987014
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1684251 Jilun He 45F, China Resources Building
26 Harbour Road, Wan Chai
Hong Kong K3 00000
No No Yes No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2016-11-07 560,900 $0.73 6,997,566 No 4 P Direct
Common Stock Acquisiton 2016-11-08 141,200 $0.74 7,138,766 No 4 P Direct
Common Stock Acquisiton 2016-10-25 8,000,000 $0.68 8,000,000 No 4 P Indirect By Melodious Investments Company Limited
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Direct
No 4 P Direct
No 4 P Indirect By Melodious Investments Company Limited
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Series C-1 Convertible Preferred Stock $0.67 10,500,000 10,500,000 Indirect
Common Stock Series C-2 Convertible Preferred Stock $0.67 6,500,000 6,500,000 Indirect
Expiration Date Amount Remaning Holdings Nature of Ownership
10,500,000 10,500,000 Indirect
6,500,000 6,500,000 Indirect
Footnotes
  1. This transaction was executed in multiple trades at prices ranging from $0.69 to $0.74; the price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
  2. This transaction was executed in multiple trades at prices ranging from $0.74 to $0.75; the price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
  3. Pursuant to a share purchase agreement (the "Share Purchase Agreement") dated as of August 30, 2016 among Melodious Investments Company Limited ("MICL"), Jilun He and SPI Solar, Inc. ("SPI"), MICL purchased an aggregate of 8,000,000 shares of the issuer's Common Stock at a per share price of $0.68 on October 25, 2016.
  4. Jilun He currently owns the entire outstanding share capital of Melodious International Investments Group Limited, which currently owns the entire outstanding share capital of Melodious Investments Company Limited which directly holds (i) 8,000,000 shares of the issuer's Common Stock, and (ii) 7,012 shares of the issuer's Series C-1 Convertible Preferred Stock and 4,341 shares of the issuer's Series C-2 Convertible Preferred Stock. Jilun He is the sole director of Melodious International Investments Group Limited and Melodious Investments Company Limited.
  5. Pursuant to the Share Purchase Agreement, MICL has the right to request SPI to repurchase such Series C-1 Convertible Preferred Stock and Series C-2 Convertible Preferred Stock (the "Preferred Shares") at a price of US$1,018.25 per share, plus an uncompounded 10% annual interest in the event any of the Preferred Shares is not converted into Common Stock of the issuer within six months following the closing date under the share purchase agreement.
  6. Series C-1 Convertible Preferred Stock will only become convertible upon the completion of five megawatts worth of solar projects (the "Projects") in accordance with certain supply agreement by and between Solar Power, Inc. and the issuer dated July 13, 2015 and has no expiration date.
  7. Series C-2 Convertible Preferred Stock will only become convertible upon the completion of 15 megawatts worth of Projects and has no expiration date.