(Source: Acorn Energy Inc) Remote Monitoring Systems Provider Acorn Secures $1.9M in Loan Commitments and Completes Initial $0.9M Tranche Wilmington, DE, February 21, 2017 - Acorn Energy, Inc. (OTCQB: ACFN), a provider of machine-to-machine, Internet of Things remote monitoring and control systems and services, announced today that it has secured commitments for $1.9 million in funding from members of the Company`s Board of Directors, including $900,000 already received by the Company. Acorn expects to repay the loans, which mature at the end of April 2018 and accrue interest at the rate of 12.5% (16.5% after February 15, 2018) payable at maturity with proceeds from an intended sale of its...
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