TerraNova Capital Partners acted as Placement Agent for Toledo Solar for $6.35 Million in Convertible Bridge Debt
Toledo Solar, Inc.
Senior Secured Notes & Common Stock
TerraNova Capital Partners has closed $6.35 million of structured equity consisting of 2 year, 12% Senior Secured notes with common stock attached.
Toledo Solar produces the world’s finest CdTe Thin Cell Solar panels, which are designed for a variety of uses from homes and small businesses to large power-generating facilities.
The Department of Energy has determined that it is critical for the U.S. to develop its own sources of solar panel manufacturing to not be dependent on overseas parties for our energy future. To achieve Net-Zero Carbon goals, the US will have to quadruple its annual solar installation rate. To do this responsibly, America can no longer rely on overseas solar panels made with coal-fired power plants and forced labor.
Toledo Solar now brings this technology for the first time to the residential and commercial building market.
TerraNova Capital Partners acted as placement agent for the offering.
About Toledo Solar Inc.
Toledo Solar produces the world’s finest CdTe Thin Cell Solar panels, which are designed for a variety of uses from homes and small businesses to large power-generating facilities. As the newest PV manufacturer in the U.S., we take pride in being 100% U.S. owned and operated. Our group of experts have decades of experience in CdTe solar manufacturing, as this type of solar power energy was invented and commercialized in Toledo, Ohio more than three decades ago.
For more information on Toledo Solar please visit: www.toledosolar-inc.com.
About TerraNova Capital Partners
TerraNova is a boutique investment, merchant banking and advisory firm focused on small-to-middle market companies. TerraNova Capital Equities, the investment bank, provides financial and capital solutions, while TerraNova Capital Partners focuses on merger and acquisition (M&A) advice and finance and merchant banking. The name means New Earth or New World. The firm’s goal is to back companies that save the Earth and create a better New World. For more information on TerraNova please visit www.terracap.com.