The Daily Journal covered Manatt’s work for Dividend Solar Inc., a solar financing company, in its merger agreement with Figtree Financing. The Manatt team was led by corporate and finance partners Alan Noskow and Brian Ashin.
Dividend’s merger with Figtree represents the first-ever combination of a residential solar lender and PACE financing provider and includes a commitment of up to $200 million from LL Funds to fuel the growth of the combined entity. The deal enables Dividend Solar to offer PACE financing, which allows property owners to access long-term financing that can be repaid through their property taxes without many of the requirements that traditional loans have.
In addition to Noskow and Ashin, partners Charles Washburn, Sharon Bauman, Jeffrey Mannisto and David Herbst worked on the matter.