ISUN - iSun secures $25M debt facility in convertible senior notes
- iSun ( NASDAQ: ISUN ) stated Tuesday it has secured a debt financing of up to $25M via senior secured convertible notes facility in a deal signed with an institutional investor.
- It includes a initial payment of $12.5M at a interest rate of 5% per annum while the other half remains subject to financing conditions.
- The initial conversion price is set to $2.66 per share compared to stock's last close of $2.24.
- One of the solar energy and clean mobility infrastructure company iSun said it intends to use the proceeds for repayment of indebtedness, satisfaction of certain of its financial obligations, working capital and general corporate purposes.
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iSun secures $25M debt facility in convertible senior notes