The loan with Decathlon Capital Partners is 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.