A123 Systems (AONE) resumes trading, now down 4.2%

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Go back to A123 Systems (AONE) resumes trading, now down 4.2%

A123 Systems (AONE) Gets Event of Default Waived on $75M Loan Interest Payment

October 15, 2012 5:29 PM EDT

On October 12, 2012, A123 Systems, Inc. (Nasdaq: AONE) entered into a consent and waiver agreement (the First Loan Consent and Waiver Agreement) with Wanxiang America Corporation (the Lender), the lender and agent under the Companys $75 million Loan Agreement (the Loan Agreement).

Under the First Loan Consent and Waiver Agreement, the Lender waived the Event of Default (as defined in the Loan Agreement) that would result from the failure by the Company to make an interest payment in an amount equal to $2,695,312.50 due on October 15, 2012 with respect to the 3.75% convertible subordinated notes due 2016 issued by the... More