Ener1 wins access to $13.5 million of DIP loan; final hearing Feb. 16

By Caroline Salls

Pittsburgh, Feb. 1 - Ener1, Inc. received interim court approval to use $13.5 million of its proposed $20 million debtor-in-possession facility, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The final hearing is scheduled for Feb. 16.

Interest on the DIP financing will be Libor plus 700 basis points.

The facility will mature in 90 days.

Fort Lauderdale, Fla.-based Ener1 is an alternative energy technology company. The company filed for bankruptcy on Jan. 26 under case number 12-10299.

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