---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-041869"
form_type: "8-K"
ticker: null
cik: "0001634447"
company_name: "ISUN, INC."
filed_at: "2023-11-17T23:59:59+00:00"
generated_at: "2026-06-08T00:07:06.594910+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# iSun receives default notice on $12.5M convertible notes; Nasdaq extends bid price compliance to May 2024

## Summary
- On Nov 13, 2023, Purchasers (Anson) declared Event of Default on $12.5M convertible notes for unpaid Nov 1 amounts and accelerated the Notes at Mandatory Default Amount.
- Nasdaq granted iSun an additional 180 calendar days (until May 13, 2024) to regain $1 minimum bid price compliance for continued listing.
- iSun failed to regain compliance within initial 180-day period ending Nov 13, 2023; extension requires closing bid at $1 for 10 consecutive business days.
- The Company intends to consider all available options to regain compliance with Nasdaq listing standards.

## SEC filing metadata
- accession: 0001493152-23-041869
- form_type: 8-K
- cik: 0001634447
- company_name: ISUN, INC.
- filed_at: 2023-11-17T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.04, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1634447/000149315223041869/0001493152-23-041869-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1634447/000149315223041869/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-041869
- JSON: https://secwatch.observer/filing/0001493152-23-041869.json
- Plain text: https://secwatch.observer/filing/0001493152-23-041869.txt

## Key facts
- Debt Financings
  ISUN, INC. reported a default on convertible notes with Anson Investments Master Fund, LP and Anson East Master Fund, LP (together, the Purchasers).
  - Instrument: convertible notes
  - Counterparty: Anson Investments Master Fund, LP and Anson East Master Fund, LP (together, the Purchasers)
  - Event: default
  source text: On November 13, 2023, the Company received notice from the Purchasers of an Event of Default under the Notes, with respect to unpaid amounts due on November 1, 2023, and under a Letter Agreement between the Company and the Purchasers, dated August 30, 2023, and described in the Company’s Current Report on Form 8-K, dated September 1, 2023. The notice states that the Purchasers have opted to accelerate the Notes at the Mandatory Default Amount as defined in the Notes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634447/000149315223041869/0001493152-23-041869-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.