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A123 Systems, Inc. (AONEQ)

- OTC Markets
AONEQ is defunct.
  • Jan. 29, 2013, 2:13 PM
    The U.S. government has signed off on the sale of bankrupt A123 Systems (AONEQ.PK -13.3%) to Chinese auto parts maker Wanxiang Group, Wanxiang announces. Some members of Congress had objected to the sale, citing energy security concerns and the $249M grant (not fully released) that A123 had received from Uncle Sam. A U.S. bankruptcy court and creditors have already approved the deal. A123 shares are currently trading at $0.035 on the pink sheets.
    | 15 Comments
  • Nov. 29, 2012, 8:54 AM
    The government filed court papers this week saying that A123 (AONE) can't be sold without its approval, due to the $239M grant that the bankrupt developer of car batteries has received from the Energy Department. Johnson Controls (JCI) is battling with China's Wanxiang Group to acquire A123, although Wanxiang's bid has aroused political opposition in the U.S.
    | 9 Comments
  • Oct. 19, 2012, 6:19 AM
    Wanxiang Group intends to outbid Johnson Controls (JCI) for A213's (AONE) automotive-business assets and replace the U.S. company as the "stalking horse" bidder. The Chinese company announced its intention at a court hearing yesterday following A123's filing for Chapter 11. At the hearing, A123 won approval to borrow up to $15.5M in interim financing from Johnson Controls.
    | 14 Comments
  • Aug. 9, 2012, 6:23 PM
    A123 Systems (AONE +22.6%) soared in late trading today to close at $0.613, a day after announcing a financing deal with China's Wanxiang Group that one estimate valued at $0.55/share. The rally came even though Congressman Cliff Stearns (R-FL) expressed his opposition to the deal, due to concerns about the DOE-backed battery maker's IP being owned by a Chinese company.
    | 6 Comments
  • Aug. 8, 2012, 2:05 PM
    A123 Systems (AONE +8.7%) has given back the majority of its premarket gains, as investors examine the details of its financing deal with China's Wanxiang Group, which features a bridge loan, convertible notes, and warrants. Forbes' Tom Konrad estimates Wanxiang will be able to acquire an 80% stake in A123 at a price of $0.55/share, moderately above its current level of $0.51. (Q2 miss)
    | 3 Comments
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