Power solutions international announces extension to $25 million shareholder loan agreement with weichai america

Wood dale, ill., may 17, 2023 (globe newswire) -- power solutions international, inc. (the “company” or “psi”) (otc pink: psix), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it amended and restated its $25 million shareholder's loan agreement with its majority stockholder, weichai america corp. (“weichai”), dated as of may 12, 2023 (the “second shareholder's loan agreement”), to extend the loan maturity date to may 20, 2024. the $25 million loan under the second shareholder's loan agreement has been fully drawn as of the date of this report and is subordinated to the company's existing $130 million senior secured revolving credit facility with standard chartered bank ($125 million loan outstanding as of this report).
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