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

Wood dale, ill., july 20, 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 july 14, 2021 (the “shareholder's loan agreement”). the shareholder's loan agreement, which matures on may 20, 2022, provides the company with access to up to $25 million of credit at the discretion of weichai to supplement the company's working capital.  borrowings under the shareholder's loan agreement will incur 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.
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