Power Solutions International Announces Extension to $25 Million Shareholder Loan Agreement With Weichai America
POWER SOLUTIONS INTL INC (PSIX)
US:NASDAQ Investor Relations:
investors.psiengines.com
Company Research
Source: GlobeNewswire
WOOD DALE, Ill., May 21, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) announced today that it amended and restated its $25 million shareholder’s loan agreement (the “$25 Million Third Amended and Restated Shareholder’s Loan Agreement”) with its majority stockholder, Weichai America Corp. (“Weichai”), dated as of May 20, 2024, to extend the loan maturity date to May 20, 2025. The $25 million loan under the $25 Million Third Amended and Restated Shareholder’s Loan Agreement has been fully drawn as of the date of this release and is subordinated in all respects to the Company’s existing $50 million senior secured revolving credit facility with Standard Chartered Bank (of which $40 million has been borrowed as of May 20, 2024). Borrowings under the $25 Million Third Amended and Restated Shareholder’s Loan Agreement will incur interest at the applicable Secured Overnight Financing Rate (“SOFR”), plus 4.05% per annum. Further, if the applicable te
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News
- Power Solutions International Announces First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
- Power Solutions International Announces First Quarter 2024 Financial Results [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Power Solutions International Announces First Quarter 2024 Financial ResultsGlobeNewswire
- Power Solutions International to Feature Products with Baudouin During Middle East Energy Show [Yahoo! Finance]Yahoo! Finance
- Power Solutions International to Feature Products with Baudouin During Middle East Energy Show [Financial Post (Toronto, Ontario, Canada)]Financial Post
PSIX
Sec Filings
- 6/14/24 - Form DEFA14A
- 6/14/24 - Form DEF
- 5/31/24 - Form SD
- PSIX's page on the SEC website