Friday, October 09, 2015
Current Weather
Loading Current Weather....
Published: Wednesday, 10/10/2012

State agency mod­i­fies Xun­light loan dead­line, follows last week's stipulation on different loan


COLUMBUS — The Ohio Air Qual­ity Devel­op­ment Au­thor­ity's board is giv­ing Toledo-based Xun­light Corp. un­til Oct. 15 to raise $3 mil­lion, a stip­u­la­tion of a mod­i­fied loan agree­ment with the state.

If the com­pany fails to raise fund­ing by that date, it could be in de­fault and the agency could be­gin a col­lec­tions pro­cess. Xun­light failed to meet a pre­vi­ous Sept. 30 dead­line to raise the $3 mil­lion.

Last week, the Ohio Depart­ment of Devel­op­ment also set an Oct. 15 dead­line on a sep­a­rate $3 mil­lion loan. Den­nis Ke­brdle, Xun­light’s chief tran­si­tion of­fi­cer, told The Blade last week that the com­pany was close to se­cur­ing the ad­di­tional fi­nanc­ing and would meet the state’s mod­i­fied dead­line.

Xun­light makes flex­i­ble so­lar pan­els and is in the fi­nal stages of re­struc­tur­ing.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.