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Evergreen Solar converts $90 million in debt

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July 28, 2008

MARLBORO, Mass.—Evergreen Solar Inc. announced Monday that it has completed the early redemption of its $90 million worth of 4.375 percent convertible subordinated notes due 2012.

Noteholders converted their notes into shares of the solar company's common stock at about $7.39 per share and Evergreen Solar issued nearly 12.2 million shares.

None of the notes were redeemed for cash.

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