TerraNova Capital Equities acted as Placement Agent for Toledo Solar for $6.35 Million in Convertible Bridge Debt

Transaction Information

TerraNova Capital Equities, Inc. 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 Cadmium Telluride (CdTe) thin film solar panels, which are designed for a variety of uses including residential and commercial applications.  

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 need to quadruple its annual solar installation rate. To do this responsibly, America can no longer rely on overseas silicon-based solar panels made using coal-fired power plants and forced labor.

CdTe panels hold the largest market share in U.S. power-generating facilities due to their superior characteristics, as compared to silicon-based panels.  Toledo Solar is now for the first time bringing this advanced CdTe technology to the residential and commercial building market.

TerraNova Capital Equities, Inc. acted as sole placement agent for the offering.

About Toledo Solar Inc.

Toledo Solar is the newest photovoltaic solar cell manufacturer in the U.S., focusing on the residential and commercial sector.  Toledo solar takes pride in being 100% U.S. owned and operated. The company’s technical experts have decades of experience in CdTe solar cell manufacturing, which 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 Equities

TerraNova Capital Equities, Inc. (member FINRA/SIPC) is the investment banking arm of TerraNova Capital, a 20-year-old financial advisory firm focused on the small-to-middle market.  TerraNova Capital is comprised of two companies; TerraNova Capital Equities, Inc. which provides financial and capital solutions to its clients, and TerraNova Capital Partners, Inc. which focuses on merger and acquisition (M&A) advice and merchant banking. For more information on TerraNova please visit www.terracap.com.