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Ener1 files for bankruptcy and restructures with USD81m investment
By
Editorial
Fri Jan 27 2012, 09:07 AM
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Indiana lithium-ion battery maker Ener1 is filing for bankruptcy protection, but has inked a deal with primary investors and lenders which will inject USD81m in equity into the business. The firm was delisted from the Nasdaq in November after failing to file to file its latest financials on time, and currently has assets worth USD73.9m and debt of USD90.5m. The cash injection will enable Ener1 to fulfil its commitments to suppliers, customers and employees.
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