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Stock Market & Financial Investment News

News Breaks
February 5, 2013
12:26 EDTACFNWilliam Blair & Company reports 6.97% passive stake in Acorn Energy
News For ACFN From The Last 14 Days
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April 13, 2015
17:35 EDTACFNAcorn Energy subsidiary defaults on $1.48M loan
In a regulatory filing, Acorn Energy reports that its GridSense subsidiary received notice from Square 1 Bank that it has defaulted on its loans. GridSense owes approximately $1.48M and $158,000 under the loan agreement and financing agreement, respectively. Acorn, GridSense and Square 1 have reached a preliminary understanding under which Acorn will pay $500,000, $500,000 will be placed in a restricted cash collateral account, $480,000 balance due will be converted to a term loan payable in 12 monthly installments commencing September, and advances would remain outstanding.

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