The Final Chapter: iSun’s Liquidation Nears Completion

The corporate existence of iSun is drawing to a definitive close. The company, which transitioned into a formal liquidation process early last year, ceased its core business operations some time ago. It now operates solely as a legal entity tasked with distributing any remaining assets to its creditors.

For stakeholders, the situation is now almost entirely dictated by proceedings in bankruptcy court. Since the case was converted to a liquidation, all efforts have focused on monetizing the last of the company's assets. Trading activity in iSun's shares has dwindled to minimal levels, a clear reflection of the advanced state of the wind-down process.

Key steps remain before the corporate dissolution is finalized:

Should investors sell immediately? Or is it worth buying iSun?

• Final Accounting: Market participants are awaiting the administrators' conclusive reports, which will detail the actual recovery rate for the various classes of creditors.
• Corporate Termination: Following the sale of all assets and the resolution of final claims, the company will be formally dissolved. This action will effectively extinguish the shares.
• Delisting: Official notifications regarding the termination of its stock registration will mark the definitive end of its listing on the exchange.

A Case Study in Sector Volatility

iSun's trajectory stands as a textbook example of the risks present in the solar industry amid shifting economic frameworks. While demand for renewable energy remains robust globally, smaller service providers have recently suffered under the weight of increased capital costs and high fixed expenses. The rapid interest rate adjustments over the past few years, in particular, placed significant operational strain on companies, pushing some to the brink.

The company's primary business units were already sold off in a court-supervised sale to private equity investors by mid-2024. Since January 2025, the focus has shifted entirely to liquidating the remaining corporate shell. Current activity before the federal court involves final account reconciliations to legally conclude the proceedings.