PSIX - Power Solutions International secures additional credit facility from Weichai America

Power Solutions International (OTCPK:PSIX) secures $25M additional credit facility in a new loan agreement with its majority shareholder Weichai America. It provides the company with access to up to $50M of credit at the discretion of Weichai This third shareholder agreement comes at an interest rate of LIBOR plus 4.5% with maturity on Nov. 30, 2022. The company previously entered into loan agreements with Weichai which includes a $130M under first agreement and $25M in second shareholder's loan agreement.  Stock closed at $3.99 on Thursday, up 19%. Earlier, Power Solutions reports Q3 results

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Power Solutions International secures additional credit facility from Weichai America