A123 Systems (AONE), 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.
For comments and feedback: editorial@rttnews.com