Kline Hill Invests in Complete Solaria with Debt-Equity Swap
Complete Solaria, Inc. (CSLR)
Company Research
Source: GlobeNewswire
FREMONT, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. (“Complete Solaria” or the “Company”) (NASDAQ: CSLR) today announced that Kline Hill Partners (KHP), a Complete Solaria debt holder, has agreed to a debt-for-equity swap, and an additional cash investment. Complete Solaria will issue 9.8 million shares (19.9%) of outstanding stock to KHP in return for cancelling its debt. Mike Bego, KHP CEO, said, “We have re-invested the principal and interest on our loan back into Complete Solaria’s stock to participate in the Company’s future growth.” Kline Hill also agreed to buy 3.7 million Complete Solaria warrants. T.J. Rodgers, Complete Solaria’s Chief Executive Officer said, “Thank you Kline Hill for your confidence in us. I would like to sincerely thank Mike Bego and his team for working with us – literally for years – in supporting our company.” Rodgers added, “Kline Hill has agreed to convert its outstanding debt to 9.8 million shares of Common Stock contingent up
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