A123 Systems Says Conditions Met For Release Of $30 Mln Restricted Cash

7/6/2012 11:54 AM ET

A123 Systems (AONE: Quote), a manufacturer of advanced Nanophosphate lithium ion batteries, said Friday 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.

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