A123 Systems Plans to Raise Almost $39 Million

Reuters reported that A123 Systems Inc (NASDAQ:AONE) plans to raise almost $39 million.

As quoted in the market news:

The company, which previously raised concerns about its viability due to expected steep losses over the next several quarters, said it will raise about $9 million by selling shares and get access to another $30 million after satisfying conditions related to senior convertible notes. Shares in A123 were down 7.7 percent in morning trading.

Click here to read the full Reuters report.