iSun Inc. Secures $25 Million Debt Facility
iSun, Inc. accelerating the adoption of innovative electrical technologies, announces that it has entered into a debt financing agreement for up to $25 million in Senior Secured Convertible Notes facility (the Notes) with a single institutional investor (the Lender).
November 09, 2022. By News Bureau
The proceeds will be used for repayment of indebtedness, satisfaction of certain of the Company’s financial obligations, working capital and general corporate purposes.
An initial funding of $12.5 million (less an original issue discount of 6% and transaction expenses) under the Notes will be immediately available to the Company at the initial closing which occurred on November 4th, with an additional $12.5 million (less an original issue discount of 6% and transaction expenses) available in a subsequent funding, subject to the satisfaction of certain funding conditions.
“We continue to see significant interest and enthusiasm for the products and services that iSun provides to our growing customer base” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “This debt facility validates our commitment to accelerating the transition to clean energy as we continue our fight against climate change while providing an opportunity to strengthen our balance sheet. As we grow our geographic footprint and establish new customer relationships, we believe our ability to drive value across all aspects of the solar life cycle will create meaningful, long-term value for our shareholders. “
A.G.P./Alliance Global Partners acted as sole placement agent for the financing, and Merritt & Merritt acted as the Company’s legal counsel.
please contact: email@example.com.
SNEC 17th (2024) International Photovoltaic Power Generation and Smart Energy Conference & Exhibition
June 04, 2024
EV NEPAL EXPO
December 08, 2023
The Renewable Energy India Expo(REI)-2023
October 04, 2023
Renewable Energy India Awards (REI Awards)
October 05, 2023
Delta Electronics: Contributing to a Greener Transportation Ecosystem
Co-Founder and Director
Goldi Solar Launches its VAMA On-grid Range of Smart String Inverters
Founder & CEO
Gruner Renewable Energy to establish India's first-ever Napier Grass bioCNG plant
Founder & Managing Director
Technological, environmental and economic factors to propel the energy storage industry