SPRUCE POWER HOLDING CORP

Spruce Power Holding Corporation has appointed Bobby L. Owens as its new General Counsel, effective July 13, 2026. Mr. Owens brings extensive legal experience, having previously served as Deputy General Counsel of OXEA Corporation and Global General Counsel of OCI Methanol. Concurrently, the company's Board approved the termination of Chief Legal Officer Jonathan Norling, with a separation agreement to be determined. Mr. Owens' compensation package includes a $325,000 base salary, a 60% target cash bonus, and equity awards.

Spruce Power Holding Corporation announced that Ja-chin Audrey Lee resigned from her position as a director, effective June 17, 2026. Ms. Lee had been serving as a Class C director, with her term originally scheduled to conclude at the company's 2026 Annual Meeting of Stockholders.

Spruce Power Holding Corporation announced its 2026 Annual Meeting of Stockholders will be held virtually on August 11, 2026. Key proposals for stockholder vote include the redomiciliation of the company from Delaware to Texas and the approval of charter amendments to implement transfer restrictions aimed at preserving tax benefits from net operating losses. Stockholders will also elect two Class C directors, ratify the appointment of CohnReznick LLP as independent auditor, and cast an advisory vote on executive compensation. The Board recommends voting "FOR" all proposals.

Spruce Power Holding Corp. reported a net loss of $(2.9) million for Q1 2026, a significant improvement from $(15.3) million in Q1 2025. However, the company disclosed substantial doubt about its ability to continue as a going concern due to upcoming maturities of its SP1 and SP2 non-recourse debt facilities within the next 12 months and insufficient liquidity to satisfy these obligations. The SP1 Facility's maturity was extended to October 30, 2026, with plans to refinance both facilities. The company also reported negative working capital of $(119.7) million as of March 31, 2026.

Spruce Power reported strong first-quarter 2026 financial results, with Operating EBITDA up 49% and Operating Income reaching $3.8 million, a significant improvement from a loss in the prior year. The company achieved positive adjusted cash generation from operations and substantially reduced its net loss, driven by continued cost management efforts. Spruce Power ended the quarter with a robust cash position of $85.6 million and reduced its debt principal by $8.2 million, positioning itself for long-term value creation.

Spruce Power Holding Corporation filed an Amendment No. 2 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The company confirmed its status as a non-accelerated filer and a smaller reporting company. As of June 30, 2025, the aggregate market value of its common stock held by non-affiliates was approximately $31.6 million.