- Power Solutions International (OTCPK:PSIX) on Thursday entered into a fourth shareholder's loan agreement with its majority stockholder Weichai America for access to up to $30M of credit at the discretion of Weichai.
- The fourth shareholder agreement with Weichai comes at an interest rate of SOFR plus 4.65% with maturity on March 31, 2023.
- PSIX in December last year had entered into a third shareholder's loan agreement with Weichai for access to up to $50M of credit.
- "We appreciate Weichai's continued support of (PSIX) as we execute on the company's business objectives and work to generate improved financial results,” said the company's CEO Lance Arnett.
- Stock earlier closed flat at $2.90.
Power Solutions secures additional $30M shareholder loan agreement with Weichai America
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| Symbol | Last Price | % Chg |
|---|---|---|
| PSIX | - | - |
| Power Solutions International, Inc. | ||