GNE Genie Energy

Filed: 12 May 21, 6:54am





Washington, D.C. 20549









Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): May 10, 2021





(Exact name of registrant as specified in its charter)




Delaware 1-35327 45-2069276

(State or other jurisdiction

of incorporation)

 (Commission File Number) 

(IRS Employer

Identification No.) 


520 Broad Street

Newark, New Jersey

(Address of principal executive offices) (Zip Code)


Registrant’s telephone number, including area code: (973) 438-3500


Not Applicable

(Former name or former address, if changed since last report.)




Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b)-2 of the Exchange Act:


Title of each class Trading Symbol 

Name of each exchange on

which registered

Class B common stock, par value $.01 per share GNE New York Stock Exchange
Series 2012-A Preferred stock, par value $.01 per share GNE.PRA New York Stock Exchange


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company   


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐







Item 8.01Other Events.


As previously disclosed in the Quarterly Report on Form 10-Q of Genie Energy Ltd. (the “Company”) for the quarter ended March 31, 2021, filed on May 7, 2021 with the Securities and Exchange Commission, on April 26, 2021, a subsidiary of the Company entered into an Equity Purchase Agreement with Hanhwa Q Cells Japan Co., Ltd. (“Hanhwa”) providing for the sale of the equity interests in Genie Japan to Hanhwa. The sale was consummated on May 10, 2021. Hanwha paid ¥570.0 million (equivalent to approximately $5.2 million on the closing date) and assumed the obligation to repay Genie Japan’s existing credit facility in an amount of approximately ¥150.0 million (equivalent to approximately $1.38 million on the closing date).







Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 By:/s/ Michael Stein
  Name: Michael Stein
  Title: Chief Executive Officer


Dated: May 12, 2021