Correlate Energy Converts Nearly $8 Million of Debt into Preferred Equity, Strengthening Financial Position and Converting Most of Its Debt into Equity
BOISE, Idaho, July 25, 2024 (GLOBE NEWSWIRE) — Correlate Energy Corp. (OTC: CIPI), a leading provider of comprehensive decarbonization solutions, announced that on June 14, 2024, the Company finalized agreements with its debtholders to convert over $7 million of the Company’s outstanding notes payable as well as approximately $1 million of long term accounts payable into equity. This strategic move strengthens the Company’s balance sheet and positions it for continued growth.
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