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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

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Why Are We Doing This?

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I join those who say that the human race has evolved to be tribal and selfish. We are largely indifferent to the needs of others, and the capitalist society we’ve built has only served to reenforce this.

As Tom Waits observed, “We’re monkeys with money and guns.”

Now, are there some extremely decent and kind people spread around the globe?  Of course.  But they tend not to be the billionaires who make all the important decisions as to the how our culture will conduct itself.

Why Are We Doing This?

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Renewable Energy

Is ir Possible that Republicans “Will Never Win Again?”

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Well, never is a long time, as they say.

Yet imagine this scenario, which is quite possible:

Trump is impeached and removed.  Almost immediately, there is an incredible outpouring of information on an additional set of crimes committed by Trump and his administration.  Simultaneously, the U.S. morphs into a social democracy, and its people enjoy quality education, access to healthcare, and prosperity, not unlike those in Northern Europe and elsewhere around the globe.

Yes, there will always be Republicans promising mass deportations and whatever else appeals to a dwindling MAGA base, but I would think they will have one hell of a hard time winning a national election.

Is ir Possible that Republicans “Will Never Win Again?”

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Republican Platform Fraught with Credibility Challenges

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The GOP can say the American economy is skyrocketing.  But then there’s that nasty little piece of reality that people can’t afford groceries and are suffering financially more generally.

Or they can day that people are suffering financially, but it’s Biden’s fault.  Oops.  Biden left office 588 days ago.

Or they can say that the war in Iran has driven up gas prices, but that will turn immediately because we’ve won the war.  Yikes.  What can we say about all these bombs?

Or they can say that all the racial hatred and divisiveness is Obama’s fault. No, that’s problematic, since he’s been gone for almost 10 years.

Trump supporters may not be too sharp, but even they are having trouble accepting all this crap.

Republican Platform Fraught with Credibility Challenges

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