Pineapple Energy Successfully Completes First Round of Capital Fundraising
2024年7月29日 - 10:46PM
Pineapple Energy Inc. (Nasdaq: PEGY) (“Pineapple” or the
“Company”), a leading provider of sustainable solar energy and
backup power to households and small businesses, has successfully
completed its first round of capital fundraising.
The collaborative effort by Conduit Capital and MBB
Energy, which can provide Pineapple over $1 million, was approved
both by the Pineapple Board of Directors and Pineapple's existing
senior lenders. The first tranche of the new loan was funded on
Tuesday, July 23rd, 2024, and a second tranche into Pineapple can
also be made available in accordance with the loan documents.
“I want to thank our department financiers for
masterfully navigating this process with unmatched expertise,”
Scott Maskin, Interim CEO of Pineapple Energy, said. “There is no
question that those within our capital stack, our shareholders, and
our team are embracing the re-imagined Pineapple Energy that we are
building each day. This faith drives new capital towards our growth
strategies.”
The funding, Maskin noted, levelizes Pineapple’s
short-term needs. “Every decision is being made because management
feels it will reimagine, restructure, recapitalize, and rebuild
shareholder equity,” Maskin added.
About Pineapple Energy
Pineapple is focused on growing leading local and
regional solar, storage, and energy services companies nationwide.
Our vision is to power the energy transition through grass-roots
growth of solar electricity paired with battery storage. Our
portfolio of brands (SUNation Energy, Hawaii Energy Connection,
E-Gear) provide those within the Residential and Commercial sectors
an end-to-end product offering spanning solar, battery storage, and
grid services.
About Conduit Capital
Conduit Capital’s leadership team is an experienced
group of investors and innovators in investment management, with a
history of incubating platforms and strategies that break new
ground. Throughout their careers with leading alternative asset
management firms and financial institutions, the founders and
senior management have developed thematic platforms and strategies
to pursue investments that respond to the challenges of our
time.
Conduit Capital’s mission is to catalyze impact at
scale by activating capital at scale. By proving the financial
viability of impact investment strategies, Conduit Capital is
charting a course others can follow, leading to a fairer, cleaner,
and more sustainable future for all of us.
Contacts:Scott MaskinInterim Chief
Executive Officer+1 (631) 823-7131SMaskin@sunation.com
Pineapple Investor
RelationsIR@pineappleenergy.com
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