- Substantially reduce the Company's outstanding indebtedness and annual interest expense;
- Exchange a substantial portion of the Company's existing convertible debt for new debt with longer maturities and lower conversion prices;
- Create a capital structure that should provide greater incentive to convertible debt holders to convert their notes into shares of the Company's common stock, which would further accomplish Evergreen Solar's goal of substantially reducing outstanding debt; and
- Enhance the Company's flexibility to manage its business by eliminating certain restrictive covenants and the security interests contained in existing debt instruments.
Evergreen Solar Implements A 1-for-6 Reverse Stock Split
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