Solar Integrated Roofing signs $25 million drawdown term note

By Mary-Katherine Stinson

Lexington, Ky., Feb. 1 – Solar Integrated Roofing Corp. signed a $25 million drawdown term note with an institutional investor, according to a press release.

The drawdown term note bears interest at 6% with an original issue discount at 95.

Each drawdown has a maturity date six months from the issuance date.

It is convertible into common stock at a fixed price of $4 per share barring an event of default.

Solar Integrated Roofing is an integrated, single-source solutions provider of solar power, roofing and EV charging systems with headquarters in San Diego, Calif.

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