A123 Systems (AONE) Gets Interim Court Approval to Use $50M DIP Financing

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Go back to A123 Systems (AONE) Gets Interim Court Approval to Use $50M DIP Financing

A123 Systems (AONE) Rips Higher on $50M DIP Court Approval

November 6, 2012 9:02 AM EST

A123 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.

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A123 Systems (AONE) Obtains $50M Bankruptcy Loan from Wanxiang

November 5, 2012 3:21 PM EST

A123 Systems, Inc. (NASDAQ: AONE) received approval for a $50 million bankruptcy loan from Wanxiang Group, according to Blooomberg.... More