Power solutions international announces additional $50 million shareholder loan agreement with weichai america

Wood dale, ill., dec. 16, 2021 (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 entered into an additional shareholder's loan agreement with its majority stockholder, weichai america corp. (“weichai”), dated as of december 10, 2021 (the “third shareholder's loan agreement”). the third shareholder's loan agreement, which matures on november 30, 2022, provides the company with access to up to $50 million of credit at the discretion of weichai to supplement the company's working capital. the third shareholder's loan agreement is subordinated in all respects to the company's existing $130 million senior secured revolving credit facility with standard chartered bank (all of which has been fully borrowed as of december 16, 2021).
PSIX Ratings Summary
PSIX Quant Ranking