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A123 Systems Announces Satisfaction of Conditions for Release of $30 Million of Restricted Cash

published: 2012-07-10 15:07

A123 Systems (Nasdaq:AONE), a developer and manufacturer of advanced Nanophosphate® lithium ion batteries and systems, today announced that it has notified the holders of its 6.00% senior convertible notes of the satisfaction of the conditions for the release of $30 million of restricted cash related to such notes that is subject to an account control agreement. The company expects that the $30 million will become unrestricted and available for general corporate purposes subject to the delivery of administrative release documentation from the note holders on or about July 6, 2012.

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