Complete Solaria Raises $10M In Convertible Debenture To Pay Off Carlyle Debt
Portfolio Pulse from Benzinga Newsdesk
Complete Solaria, Inc. (NASDAQ:CSLR) has raised $10 million through Convertible Senior Notes to pay off Carlyle debt. The notes, issued to an entity affiliated with CEO Thurman J. Rodgers, have a 12% coupon rate, a 5-year term, and a $2.00 conversion price. The company may offer up to $10 million of additional notes on identical terms.
June 17, 2024 | 8:11 pm
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Complete Solaria has raised $10 million through Convertible Senior Notes to pay off Carlyle debt. The notes have a 12% coupon rate, a 5-year term, and a $2.00 conversion price, representing a 33% premium to the current stock price.
The $10 million raised will help Complete Solaria pay off existing debt, improving its financial stability. The 33% premium conversion price indicates investor confidence, which could positively impact the stock price in the short term.
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