false 0001634447 0001634447 2024-05-15 2024-05-15 iso4217:USD xbrli:shares iso4217:USD xbrli:shares






Washington, D.C. 20549









Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 15, 2024 (May 9, 2024)





(Exact name of registrant as specified in its charter)


Delaware   001-37707   47-2150172
(State or other jurisdiction of
incorporation or organization)


File Number)

  (I.R.S. Employer
Identification Number)


400 Avenue D, Suite 10, Williston, Vermont 05495
(Address of Principal Executive Offices) (Zip Code)
(802) 658-3378
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)




Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:


Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.0001 par value per share   ISUN   Nasdaq Capital Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.






Item 2.04 Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement


On December 12, 2023, iSun, Inc. (the “Company”) and its subsidiaries entered into the Revenue Loan and Security Agreement (the “Loan Agreement”) with Decathlon Specialty Finance, LLC, pursuant to which the Company borrowed the aggregate principal amount of up to $8,000,000, as described in the Company’s Current Report on Form 8-K, dated December 13, 2023.


On May 9, 2024, the Company received notice from Decathlon Growth Credit, LLC (“Decathlon”), successor in interest to Decathlon Specialty Finance, LLC, of an Event of Default under the Loan Agreement, with respect to (i) the Company’s failure to deliver Deposit Account Control Agreements to Decathlon as required by the Loan Agreement, (ii) the Company’s incurrence of indebtedness not permitted under the Loan Agreement, and (iii) the Company’s grant of liens on its assets in violation of the Loan Agreement. The notice states that Decathlon has demanded the immediate payment of all obligations owed by the Company to Decathlon, including Decathlon’s costs of collection.






Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Dated: May 15, 2024


  iSun, Inc.
  By: /s/ Jeffrey Peck
  Name: Jeffrey Peck
  Title: Chief Executive Officer




May 15, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date May 15, 2024
Entity File Number 001-37707
Entity Registrant Name ISUN, INC.
Entity Central Index Key 0001634447
Entity Tax Identification Number 47-2150172
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 400 Avenue D
Entity Address, Address Line Two Suite 10
Entity Address, City or Town Williston
Entity Address, State or Province VT
Entity Address, Postal Zip Code 05495
City Area Code (802)
Local Phone Number 658-3378
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.0001 par value per share
Trading Symbol ISUN
Security Exchange Name NASDAQ
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false

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