iSun Announced The Closing Of An $8M Senior Secured Loan With Decathlon Capital Partners, To Refinance In Full The Prior Senior Secured Convertible Facility Which Had Become Overly Dilutive
Portfolio Pulse from Benzinga Newsdesk
iSun, Inc. has closed an $8M senior secured loan with Decathlon Capital Partners to refinance its previous senior secured convertible facility with Anson Investment Master Fund, LP and Anson East Master Fund, LP. The refinancing aims to reduce the dilutive impact of the prior facility. $6M will retire existing convertible notes, $1.5M will bolster working capital, and $0.5M will cover transaction fees.

December 14, 2023 | 1:48 pm
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iSun has refinanced its debt with a less dilutive $8M loan from Decathlon Capital, retiring $6M in convertible notes and enhancing working capital by $1.5M.
The refinancing deal is likely to be viewed positively by investors as it suggests a proactive approach to managing debt and reducing dilution from convertible notes. The addition of $1.5M to the balance sheet for working capital indicates an improvement in the company's financial position, which could lead to a short-term positive impact on the stock price.
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