Peter Gastreich

- Spruce Power Holding Corporation (SPRU) has announced transformative steps to streamline operations, including **workforce adjustments** and the **closure of its Denver office**, aimed at improving operational efficiency and driving long-term profitability.  **[1772720_0001628280-25-042593_pressrelease_sprucepower.htm:0]** 
- These initiatives are expected to generate approximately **$20 million in annualized savings** by reducing SG&A expense, which the company believes will accelerate its path to positive free cash flow.  **[1772720_0001628280-25-042593_pressrelease_sprucepower.htm:0]** **[1772720_0001628280-25-042593_spru-20250924.htm:1]** 
- The reduction in force, approved on **September 16, 2025**, will impact approximately **40 employees and contractors**, representing about **19% of the company's workforce**.  **[1772720_0001628280-25-042593_spru-20250924.htm:1]** 
- Spruce Power anticipates incurring charges of approximately **$1 million** for employee severance and related costs, with the majority expected to be recognized in the **third quarter of 2025**.  **[1772720_0001628280-25-042593_spru-20250924.htm:1]** **[1772720_0001628280-25-042593_pressrelease_sprucepower.htm:1]**

SPRUCE POWER HOLDING (SPRU)