OneRoof Energy receives additional $1,500,000 financing from Black Coral Capital
Written By: Stratton Report
December 16, 2015
On December 16, OneRoof Energy, Inc. announced that it will receive $1,500,000 financing via a secured non-convertible note from Black Coral Capital, LLC,
The note is secured by the assets of OneRoof Energy that are not otherwise pledged under project financings. These available assets are already pledged as security under the company’s senior credit agreements, as well as the agreements governing the company’s subordinated convertible notes. The note bears an interest rate of 16% per annum compounded monthly and any voluntary prepayment of any installment requires the payment of a penalty equal to one-ninth of the principal amount of the installment of the loan.