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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Decathalon Capital Partners Provides $8MM Term Loan to iSun
Monday, December 18, 2023
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Lenders/Participants
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Decathalon Capital Partners [Lender]
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Structure
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Term Loan
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Amount
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$8.000
Million
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Borrower(s)
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iSun, Inc.
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Description
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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. Funds will be utilized as follows: $6.0 million for the retirement of existing Senior Secured Convertible Notes previously issued to Anson Investment Master Fund, LP and Anson East Master Fund, LP; $1.5 million to the balance sheet for working capital; $0.5 million in transaction fees.
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Industry
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Energy
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| Related Tags |
Decathalon Capital Partners
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ABL Advisor
Deal Tables
2025
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