Acorn Energy to redeem $6.5 million of 10% debentures due 2011

By Devika Patel

Knoxville, Tenn., Jan. 2 - Acorn Energy, Inc. announced plans to buy back all of its $6.5 million outstanding 10% convertible redeemable subordinated debentures due March 30, 2011 on Jan. 29.

The notes will be bought back at par plus accrued interest.

Debenture holders may convert up to 50% of each debenture into common stock at $3.80 per share.

Located in Mahwah, N.J., Acorn Energy, formerly known as Acorn Factor, Inc., develops clean energy technologies.

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