iSun, Inc. Secures Term Loan
December 2023– England & Company is pleased to announce it served as the exclusive advisor and placement agent to iSun, Inc. (“iSun”) (NASDAQ: ISUN) in securing an $8,000,000 senior secured loan with Decathlon Capital Partners to refinance in full the prior senior secured convertible facility which had become overly dilutive.
The transaction, which carries a 48-month term, is a straight debt instrument, thus avoiding any equity dilution. Debt service payments begin at a smaller initial level and increase over the course of the loan in several step-ups, tracking the Company’s revenue growth. Along with Decathlon’s collaborative approach and covenant-light terms, these features make this an ideal funding instrument for iSun at this stage of the company’s life.
About iSun Inc.
Since 1972, iSun has accelerated the adoption of innovations in energy transition and electrification technology. iSun has been the trusted service provider to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 600 megawatts of solar systems. The Company currently provides a comprehensive suite of solar services across residential, commercial, industrial & municipal, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.