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Sunworks amends term loan to extend maturity date

Sunworks Inc. amended its $3.75 million term loan with CrowdOut Capital LLC to extend the maturity date to Jan. 31, 2021, from June 30, 2020.

Under the amended term loan, Sunworks will issue 400,000 shares of its common stock to holders of the senior term loan.

"This revised credit agreement allows us to continue to execute on our backlog of scheduled installations, without the liability becoming due within one year," said Sunworks CEO Chuck Cargile.