iSun Closes Secured Loan with Decathlon Capital Partners

Jeffrey Peck is a person. iSun has secured a loan of $8 million dollars from Decathlon Capital Partners to replace the previous loan that was causing stocks to be diluted. This loan will last for 48 months and is created in the form of debt, thus avoiding any risk of stock dilution. The initial amount of the loan is lower, but then it gradually increases as the company’s income grows. The money from the loan will be used for the following: Funds totaling six million dollars were allocated for the end of Senior Secured Convertible Notes that were previously given to Anson Investment Master Fund, LP and Anson East Master Fund, LP. An additional $1.5 million was added to the balance sheet as working capital. This is an extraordinary accomplishment for iSun, and I’d like to thank Decathlon for extending us a loan and thank our employees for their diligence in completing this project. Jeffrey Peck, iSun’s chairperson and CCO, said appreciatively. This confirms our dedication to hastening the movement to renewable energy sources as we strive to address climate change while giving us an opening to reinforce our financial position. England & Company were solely responsible for advising and placing funds for the financing, while Merritt & Merritt served as the legal advisors to the company.