---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-044657"
form_type: "8-K"
ticker: null
cik: "0001634447"
company_name: "ISUN, INC."
filed_at: "2023-12-13T23:59:59+00:00"
generated_at: "2026-06-07T13:30:24.295454+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# iSun secures $8M revenue loan, redeems $6M notes with stock and preferred

## Summary
- Borrowed up to $8M from Decathlon Specialty Finance; monthly fixed payments $165K in 2024, $225K 2025–2027, maturity Dec 5, 2027.
- Paid $6M cash, issued 3.5M common shares and 300K Series A convertible preferred shares to Anson Investors to redeem outstanding convertible notes.
- Preferred shares: 7% cumulative in-kind dividend, convertible at 90% of lowest 10-day VWAP, 9.99% ownership cap, mandatory redemption July 1, 2029.
- Anson agreed to a 3-month lock-up on the common shares issued.
- iSun must file a resale registration statement by Feb 28, 2024 (or later if shareholder approval needed).

## SEC filing metadata
- accession: 0001493152-23-044657
- form_type: 8-K
- cik: 0001634447
- company_name: ISUN, INC.
- filed_at: 2023-12-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1634447/000149315223044657/0001493152-23-044657-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1634447/000149315223044657/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-044657
- JSON: https://secwatch.observer/filing/0001493152-23-044657.json
- Plain text: https://secwatch.observer/filing/0001493152-23-044657.txt

## Key facts
- Debt Financings
  ISUN, INC. incurred loan of maximum amount of $8.0 million with Decathlon Specialty Finance, LLC at rate necessary to generate "Minimum Interest" as that term is defined in the Loa maturing December 5, 2027.
  - Instrument: loan
  - Principal: maximum amount of $8.0 million
  - Counterparty: Decathlon Specialty Finance, LLC
  - Rate: rate necessary to generate "Minimum Interest" as that term is defined in the Loa
  - Maturity: December 5, 2027
  - Event: incurrence
  source text: On December 12, 2023, the Company and its Subsidiaries entered into a Revenue Loan and Security Agreement (the “Loan Agreement”) with Decathlon Specialty Finance, LLC providing for a loan facility for the Company in the maximum amount of $8.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634447/000149315223044657/0001493152-23-044657-index.htm
- Material Agreements
  ISUN, INC. terminated Senior Secured Convertible Promissory Notes with Anson Investments Master Fund LP and Anson East Master Fund LP valued at aggregate amount of $6,000,000 (effective 2023-12-12).
  - Action: termination
  - Agreement: notes offering
  - Counterparty: Anson Investments Master Fund LP and Anson East Master Fund LP
  - Value: aggregate amount of $6,000,000
  - Effective: 2023-12-12
  source text: On December 12, 2023, iSun, Inc., a Delaware corporation (the “Company”), entered into a Letter Agreement (the “Letter Agreement”) by and between the Company and each of Anson Investments Master Fund LP and Anson East Master Fund LP (together, the “Investors”) pursuant to which the Company redeemed all amounts due under those certain Senior Secured Convertible Promissory Notes issued to the Investors, dated November 4, 2022 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634447/000149315223044657/0001493152-23-044657-index.htm
- Material Agreements
  ISUN, INC. entered into Loan Agreement with Decathlon Specialty Finance, LLC valued at maximum amount of $8.0 million (effective 2023-12-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Decathlon Specialty Finance, LLC
  - Value: maximum amount of $8.0 million
  - Effective: 2023-12-12
  source text: On December 12, 2023, the Company and its Subsidiaries entered into a Revenue Loan and Security Agreement (the “Loan Agreement”) with Decathlon Specialty Finance, LLC providing for a loan facility for the Company in the maximum amount of $8.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634447/000149315223044657/0001493152-23-044657-index.htm

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