Automotive battery maker Ener1 Inc. said Friday it has agreed to sell a total of $65 million in senior notes.
The company plans to sell $55 million of senior unsecured notes together with stock and warrants to certain investment funds, led by funds managed by Goldman Sachs Asset Management LP.
Ener1 also announced the sale of $10 million in senior convertible notes to Itochu Corp., the company's sales and marketing partner in Asia as well as the largest global reseller of manufacturing equipment for lithium-ion battery production.
The sale of the senior notes is expected to be completed by Wednesday.
Ener1 plans to use the proceeds from the note sale along with stimulus funds to add new capacity at three Indianapolis plants.
Shares fell 2 cents in morning trading to hit $3.24.
