Brief: Sunworks Inc - Co's Board Will Be Reduced From Six Directors To Five

Sunworks

29/01/2020 13:19

Sunworks Inc  SUNW.O :
    * SUNWORKS AMENDS TERM LOAN AGREEMENT AND AGREES TO PAY DOWN
$1.5
MILLION IN DEBT AS PART OF DELEVERAGING INITIATIVE
    * SUNWORKS- AGREED TO AMENDMENT TO ITS LOAN AGREEMENT WITH
CROWDOUT CAPITAL WHEREBY CO TO REDUCE OUTSTANDING BALANCE OF $3
MILLION SENIOR NOTE BY $1.5 MILLION
    * SUNWORKS - AS PART OF AMENDMENT, CROWDOUT HAS WAIVED ITS
RIGHT
TO APPOINT A BOARD MEMBER TO CO'S BOARD OF DIRECTORS
    * SUNWORKS INC - JOSH SCHECHTER HAS ANNOUNCED HIS
RESIGNATION FROM
BOARD, EFFECTIVE IMMEDIATELY
    * SUNWORKS INC - CO'S BOARD WILL BE REDUCED FROM SIX
DIRECTORS TO
FIVE
    * SUNWORKS INC - FOUR REMAINING INDEPENDENT DIRECTORS HAVE
NAMED
CHUCK CARGILE, SUNWORKS CHIEF EXECUTIVE OFFICER, AS CO'S NEW
CHAIRMAN
    * SUNWORKS INC - "HAVE RIGHT-SIZED OUR COST STRUCTURE AND
EXPECT
TO GENERATE POSITIVE CASH FLOW IN 2020"

Source text for Eikon:  ID:nGNX4Js8zt 
Further company coverage:  SUNW.O