Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Ener1 Announces That It Is Now Debt Free

Abstract:
Received Conversion Notices for 100% of Convertible Debentures

Ener1 Announces That It Is Now Debt Free

FORT LAUDERDALE, FL | Posted on March 27th, 2008

Ener1, Inc. today announced that all of the remaining holders of its 2004 and 2005 Convertible Secured Debentures have elected to convert their debentures into common stock.

The Company also announced that Ener1 Group, Inc., the majority shareholder of Ener1, also converted its holdings of $11,960,000 of convertible Ener1 notes plus interest into common stock as of March 25, 2008. As a result of the conversions, the company is now debt free and the security interests in the company's assets that were granted in favor of the debenture holders can be released.

Charles Gassenheimer, Ener1's Chairman, commented, "In one of the most difficult capital markets environments, Ener1 has successfully completed a $32 million capital raise in November 2007 and now has completed the clean-up of its balance sheet. While we still have significant challenges ahead, the debt-free balance sheet allows management to focus on building company value, and frees operating cash to invest in our future. The improved balance sheet has also been a significant benefit in discussions with customers and partners."

####

About Ener1, Inc.
Ener1, Inc. is leading the North American development and commercialization of advanced, high-performance safe lithium ion (Li-ion) batteries for hybrid electric vehicles (HEVs), Plug-in HEVs (PHEVs) and Electric Vehicles (EVs). Ener1 also is developing commercial fuel cell products through its EnerFuel subsidiary and nanotechnology-based materials and manufacturing processes for batteries and other applications at its NanoEner subsidiary. For more information, visit www.ener1.com and www.enerdel.com or call 954-556-4020.

For more information, please click here

Contacts:
Michael Mason (investor relations)
Allen & Caron Inc
212 691 8087


Jerry Herlihy (Ener1)
954 556-4020 x310

Copyright © PR Newswire Association LLC.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Strength in numbers: Researchers develop the first-ever quantum device that detects and corrects its own errors March 4th, 2015

New research could lead to more efficient electrical energy storage March 4th, 2015

Energy-generating cloth could replace batteries in wearable devices March 4th, 2015

Arrowhead to Present at 2015 Barclays Global Healthcare Conference March 4th, 2015

Investments/IPO's/Splits

Arrowhead to Present at 2015 Barclays Global Healthcare Conference March 4th, 2015

Arrowhead to Present at 2015 RBC Capital Markets' Global Healthcare Conference February 17th, 2015

Iran 1st among Islamic Nations in Scientific Production, Nanotechnology February 16th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Raises an Additional $29 Million (CAD), Closing 2014 Financing at $62 Million (CAD) February 2nd, 2015

Announcements

Experiment and theory unite at last in debate over microbial nanowires: New model and experiments settle debate over metallic-like conductivity of microbial nanowires in bacterium March 4th, 2015

Magnetic vortices in nanodisks reveal information: Researchers from Dresden and Jülich use microwaves to read out information from smallest storage devices March 4th, 2015

CiQUS researchers obtain high-quality perovskites over large areas by a chemical method March 4th, 2015

Arrowhead to Present at 2015 Barclays Global Healthcare Conference March 4th, 2015

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

New research could lead to more efficient electrical energy storage March 4th, 2015

Energy-generating cloth could replace batteries in wearable devices March 4th, 2015

Glass coating improves battery performance: To improve lithium-sulfur batteries, researchers added glass cage-like coating and graphene oxide March 2nd, 2015

Scientific breakthrough in rechargeable batteries: Researchers from Singapore and Québec Team Up to Develop Next-Generation Materials to Power Electronic Devices and Electric Vehicles February 28th, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE