Power Solutions Ink Additional $25M Shareholder Loan Agreement With Weichai America

  • Power Solutions International Inc PSIX entered into an additional shareholder's loan agreement with its majority stockholder, Weichai America Corp., dated July 14, 2021.
  • The Shareholder's Loan Agreement, which matures on May 20, 2022, provides access to up to $25 million of credit at the discretion of Weichai to supplement the company's working capital, with interest at the applicable rate of LIBOR + 4.50% per annum. 
  • As of July 15, 2021, PSI has borrowed $15 million under the Shareholder's Loan Agreement.
  • Price action: PSIX shares are trading higher by 5.71% at $7.40 on the last check Wednesday.
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