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
Remarkably, there are still people on this Earth who agree with Mr. Hayek. It appeared that their numbers were thinning out, until Donald Trump came along and gave straight white Christian men permission to be the most disgusting people imaginable.
Social justice brought us the end of the divine right of kings and slavery; it brought us the Age of Reason and the incorporation of science into policymaking.
Even the most despicable Americans in the most backwater parts of the United States will face steep consequences if they lynch a black man, and don’t forget that lynching in the Deep South was as popular as baseball only 100 years ago.
One of the key features of Trumpism is that facts don’t matter–and this includes facts that members of the MAGA base experience every time they go to the grocery store or fill up their gas tank.
If Trump or one of his minions says it, it must be true, regardless of how blatantly false it is.
Here, Samuel L. Jackson provides a fresh insight into today’s Republican party. It’s the polar opposite of the idea we all learned as children: live and let live.
People who aren’t straight white Christian males are the enemy.
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