A123 Systems (AONE) Obtains $50M Bankruptcy Loan from Wanxiang
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A123 Systems (AONE) Rips Higher on $50M DIP Court Approval
November 6, 2012 9:02 AM ESTA123 Systems, Inc. (Nasdaq; AONE) shares are ripping higher in early trade after receiving court approval to put $50 million of debtor-in-possession (DIP) financing to work. Wanxiang Group Corp provided the DIP financing, which A123 noted doesn't give it any further leverage or control over the company.
Chatter of... More
A123 Systems (AONE) Gets Interim Court Approval to Use $50M DIP Financing
November 6, 2012 7:03 AM ESTA123 Systems, Inc. (Nasdaq: AONE) announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has granted A123 interim approval to use $50 million of Debtor-in-Possession ("DIP") financing, which is being provided by Wanxiang Group Corporation ("Wanxiang"). The financing supplements the pre-petition $22.5 million of liquidity and letter of credit support... More
