Solarmax Commercial Loan Write-Ups

09-Aug-2011

On July 25, 2011, Solarmax Technology Inc. concluded and signed a $5M loan offered by Cathay Bank. The credit facility includes a $3M revolving credit line for commercial solar projects installation, and a $2M- 4-year term loan. The special warrants covered under grants Cathay General Bancorp the right to purchase Solarmax’s Common Stocks at exercise price of $2.50 per share, up to 70,000 shares. Warrants expire after 5 years.