11:38 AM EDT, 09/04/2024 (MT Newswires) -- NeoVolta ( NEOV ) said Wednesday it has negotiated a $5 million credit line from National Energy Modelers to beef up its working capital.

The pure debt financing deal helps to preserve shareholder equity while the company pursues investment opportunities in the residential solar energy sector, it said.

Terms of the agreement weren't disclosed.

Shares of the company were down 2% in recent trading.

Price: 2.97, Change: -0.06, Percent Change: -1.98