debt
confidence high
sentiment negative
materiality 0.70
Zeo Energy enters $4M promissory note with LHX; repayable in shares at $1.35 or 4x cash
Zeo Energy Corp.
- Up to $4M available in three tranches: $2.5M initial, $750K upon 340 solar permits (60 days), $750K upon 296 installations (60 days after).
- Repayment due one year from issuance; may elect share issuance at $1.35/share or cash at 4x principal.
- No interest except 10% per annum on amounts unpaid after 30 days.
- Voting agreement requires certain stockholders to back LHX board designee and share issuance.
- Loan proceeds for working capital; LHX can waive milestones and advance funds.