Kline Hill Partners (KHP) has struck a transformative deal with Complete Solaria, Inc., agreeing to swap debt for equity and inject additional funds into the solar energy company. This strategic move involves KHP receiving 9.8 million shares, equivalent to 19.9% of the total outstanding stock, in return for relinquishing debt obligations. Mike Bego, CEO of KHP, has expressed confidence in Complete Solaria’s prospects by reinvesting loan principal and interest in the company’s shares. Furthermore, Kline Hill intends to procure 3.7 million warrants from Complete Solaria. However, the conversion of KHP’s debt into shares hinges on reaching a similar agreement with other creditors.
Complete Solaria reaches agreement with Kline Hill
Complete Solaria has secured debt-for-equity swap and additional investment from Kline Hill Partners. (Image Credit: Complete Solaria)
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