secwatch.observer — SEC 8-K summary
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Issuer:     ISUN, INC. (—)
CIK:        0001634447
Form:       8-K
Filed at:   2023-12-13T23:59:59+00:00
Accession:  0001493152-23-044657
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iSun secures $8M revenue loan, redeems $6M notes with stock and preferred
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1634447/000149315223044657/0001493152-23-044657-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1634447/000149315223044657/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-044657

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