Summer Energy Holdings, Inc. Signs Single Payment Note with Comerica Bank in the Amount of $2,900,000
December 21, 2018 at 03:54 pm
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On December 18, 2018, Summer Energy Holdings, Inc. signed a Single Payment Note with Comerica Bank in the amount of $2,900,000. The Note has a maturity date of June 11, 2020, with interest thereon at a per annum rate equal to the Prime Referenced Rate" plus the Applicable Margin." The Prime Referenced Rate" means, for any day, a per annum interest rate which is equal to the Prime Rate" in effect on such day, but in no event and at no time shall the Prime Reference Rate" be less than the sum of the Daily Adjusting LIBOR Rate for such day plus 2.5% per annum.
Summer Energy Holdings, Inc. operates through its wholly owned subsidiaries Summer Energy, LLC (Summer LLC), Summer Energy Midwest, LLC (Summer Midwest), and Summer Energy Northeast, LLC. Summer LLC is a retail electric provider in the state of Texas under a license with the Public Utility Commission of Texas (PUCT). Summer LLC procures wholesale energy and resells to commercial and residential customers. The Company provides electricity to residential and all size commercial customers in the restructured retail energy market. Summer Northeast is engaged in serving electric load to both residential and commercial customers in the Northeastern United States and holds licenses in Massachusetts and New Hampshire. Summer Midwest provide billing, collections, back-office service, including supply and scheduling services, customer service and accounting services.
SUMMER ENERGY HOLDINGS, INC. 
