iSun has closed on an $8 million senior secured loan with Decathlon Capital Partners to fully refinance the prior senior secured convertible facility which had become dilutive.
The transaction carries a 48-month term and is a straight debt instrument, avoiding any equity dilution. Debt service payments begin at a smaller initial level and increase over the course of the loan in several step-ups, tracking the company’s revenue growth.
Funds will be utilized as follows:
- $6 million for the retirement of existing Senior Secured Convertible Notes previously issued to Anson Investment Master Fund, LP and Anson East Master Fund, LP;
- $1.5 million to the balance sheet for working capital; and
- $0.5 million in transaction fees.
“This is a huge milestone for iSun, and I want to say thank you to our new financing partners at Decathlon and to our employees for all their hard work in getting this across the finish line,” says Jeffrey Peck, iSun’s chairman and CCO. “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.”
England & Company acted as exclusive advisor and placement agent for the financing and Merritt & Merritt acted as the company’s legal counsel.
The post iSun Closes on $8 Million Secured Loan with Decathlon Capital Partners appeared first on Solar Industry.
iSun Closes on $8 Million Secured Loan with Decathlon Capital Partners
Renewable Energy
Celebrating American Ignorance
There are so many tragic aspects to life in today’s United States that it’s hard to name them all.
For my money, one of the saddest elements to the American zeitgeist is its glorification of ignorance.
Up until recently, if you wanted to know what science believes about anthropology, climate change, or particle physics, you asked a scientist in the relevant discipline, who not only has a college degree, but normally a ton of education on top of that.
Now, you ask a congressional Republican, preferably, an evangelical Christian.
Renewable Energy
How and Why We Conduct Science
To the author of the meme here (if it’s an actual human being, vs. a Russian bot): to the best of my knowledge, the only actual major “scientific fraud” in world history was “Piltdown Man.” In 1912, a pseudo-anthropologist attempted to fool the scientific community into believing he had discovered the “missing link” between apes and humans.
Now, are there examples of instances when the science of the day turned out to be incorrect?
Of course, and new instances of this surface every day.
Think of how little when scientists believed 200 years ago is still intact today. Perhaps most obviously, Newtonian mechanics has fallen to relativity and quantum physics, but there are hundreds of other paradigm shifts in health and medicine, psychology, cellular biology, chemistry, and particle physics.
Contrary to what conspiracy theorists want you to believe, science is not a set of facts; it’s a methodology whereby we come to learn more about ourselves and the world around us.
Are there other methods by which we “learn?” Sure. Some uneducated guy goes on YouTube and becomes convinced that our consumption of fossil fuels is not causing the temperature of the Earth’s atmosphere and oceans to rise. I would argue that this conduct is inferior to the scientific method.
Renewable Energy
Trump’s Only Real Talents: Attracting Attention and Controlling Morally Weak People
Trump is not an idiot. His IQ may not be too high, but he’s smart enough to know how to conduct himself in his lifelong quest to amass more wealth and power at the expense of everyone else on Earth.
Trump’s Only Real Talents: Attracting Attention and Controlling Morally Weak People
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