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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)
of </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>the Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>March 9, 2012</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (date of earliest event
reported) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EVERGREEN SOLAR, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of Registrant as specified
in its charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 34%; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; vertical-align: bottom; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; vertical-align: bottom; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-bottom: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-bottom: 0.75pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-bottom: 0.75pt; font-weight: bold; text-align: center">000-31687</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-bottom: 0.75pt; font-weight: bold; text-align: center">04-3242254</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>incorporation or organization)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; font-weight: bold; text-align: center"><B>(Commission File Number)</B></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(I.R.S. Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification Number)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>138 Bartlett Street </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Marlboro, Massachusetts 01752 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive offices)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(508) 357-2221 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Registrant&rsquo;s telephone number,
including area code) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Former name or former address, if changed
since last report.) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-bottom: 10pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-bottom: 10pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-bottom: 10pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-bottom: 10pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0"><B>1.01 Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">As previously disclosed, on August 15, 2011, Evergreen
Solar, Inc. (the &ldquo;Company&rdquo;), pursuant to the provisions of the United States Bankruptcy Code (the &ldquo;Bankruptcy
Code&rdquo;), filed a voluntary petition in the United States Bankruptcy Court for the District of Delaware (the &ldquo;Bankruptcy
Court&rdquo;) seeking relief under the provisions of chapter 11 of the Bankruptcy Code (Case No. 11-12590) (the &ldquo;Bankruptcy
Case&rdquo;). Also as previously disclosed, the Company has sold substantially all of its assets, excluding the Company&rsquo;s
facility located at Devens, Massachusetts and certain equipment therein (the &ldquo;Devens Assets&rdquo;) pursuant to asset sales
under Section 363 of the Bankruptcy Code.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">In connection with the Bankruptcy Case, the Company and
Hackman Capital Acquisition Company, LLC, as purchaser (the &ldquo;Devens Assets Purchaser&rdquo;), entered into an Asset Purchase
Agreement, dated as of March 9, 2012 (the &ldquo;Devens Assets Purchase Agreement&rdquo;), pursuant to which the Company agreed
to sell the Devens Assets to the Devens Assets Purchaser. Pursuant to the terms of the agreement, the Devens Assets Purchaser has
agreed to purchase the Devens Assets for $8,530,000, subject to certain adjustments as described therein.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">To facilitate the consummation of the transactions contemplated
by the Devens Assets Purchase Agreement, the Company, Massachusetts Development Finance Agency (&ldquo;MassDev&rdquo;) and 112
Barnum Road, LLC (the &ldquo;Purchaser Affiliate&rdquo;), an affiliate of the Devens Assets Purchaser, entered into that certain
Settlement Agreement and Release, dated as of March 11, 2012 (the &ldquo;Settlement Agreement&rdquo;), pursuant to which, subject
to the closing of the sale of the Devens Assets, the Company will direct the Devens Assets Purchaser to pay a portion of the purchase
price under the Devens Assets Purchase Agreement directly to MassDev; MassDev will convey title to the land located in Devens,
Massachusetts to the Purchaser Entity; and the Company and MassDev will settle all outstanding claims against one another, among
other things.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">The Devens Assets are to be sold pursuant to Sections 105,
363 and 365 of the Bankruptcy Code, and the agreements described herein are subject to the issuance by the Bankruptcy Court of
an order approving the transaction (the &ldquo;Sale Order&rdquo;).</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">Consummation of the sale of the Devens Assets pursuant
to the Devens Asset Purchase Agreement is subject to a number of customary conditions, including, among others, conditions related
to accuracy of the representations and warranties of the parties; material compliance by the parties with their obligations under
the governing agreement; and compliance with the Bankruptcy Code.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">The Devens Assets Purchase Agreement may be terminated
under a number of circumstances, including breach of certain representations and covenants and the revocation of the Sale Order.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">The foregoing description of the transactions contemplated
by the Devens Assets Purchase Agreement and the Settlement Agreement does not purport to be complete and is qualified in its entirety
by reference to the Devens Assets Purchase Agreement and the Settlement Agreement, which are filed as Exhibits 2.1 and 2.2 hereto
and are incorporated herein by reference.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0"><B>Cautionary Statement Regarding Forward-Looking Statements</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">This Current Report on Form 8-K, contains forward-looking
statements, including the Company&rsquo;s intent to close the sale of the Devens Assets to the Devens Assets Purchaser and the
potential effects of the Settlement Agreement. Such forward-looking statements are subject to risks and uncertainties which could
cause them to differ materially from those currently anticipated in such statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include our ability to comply with and meet the conditions set forth
in the agreements governing such transaction in order to close the sale and our ability to obtain a Sale Order. Forward-looking
statements speak only as of the date they are made and the Company disclaims any obligation to publicly update or revise any such
statements to reflect any change in Company expectations, or in events, conditions or circumstances on which any such statements
may be used, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01. Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 15%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid"><B>No.</B></P></TD>
    <TD STYLE="width: 5%; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 80%; border-bottom: windowtext 1pt solid; padding-bottom: 0.75pt; font-weight: bold">Description</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-bottom: 10pt">2.1</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; padding-bottom: 10pt">Asset Purchase Agreement (Devens Assets), dated March 9, 2012, between the Company and Hackman Capital Acquisition Company, LLC</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-bottom: 10pt">2.2</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; padding-bottom: 10pt">Settlement Agreement and Release, dated March 11, 2012, among the Company, Massachusetts Development Finance Agency and 112 Barnum Road, LLC</TD></TR>
</TABLE>
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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">Evergreen Solar, Inc.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Christian M. Ehrbar</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Name: 	Christian M. Ehrbar
<br>Title: 	President and Chief Executive Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated March 15, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 18%; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 4%; vertical-align: bottom; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 78%; padding-bottom: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid">Exhibit Number</P></TD>
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-bottom: 0.75pt">Description</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-bottom: 10pt">2.1</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; padding-bottom: 10pt">Asset Purchase Agreement (Devens Assets), dated March 9, 2012, between the Company and Hackman Capital Acquisition Company, LLC</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-bottom: 10pt">2.2</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; padding-bottom: 10pt">Settlement Agreement and Release, dated March 11, 2012, among the Company, Massachusetts Development Finance Agency and 112 Barnum Road, LLC</TD></TR>
</TABLE>
<P STYLE="margin: 0">&nbsp;</P>

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{"company-data": {"conformed-name": "EVERGREEN SOLAR INC", "cik": "0000947397", "assigned-sic": "3674", "irs-number": "043242254", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-31687", "film-number": "12694793"}, "business-address": {"street1": "138 BARTLETT STREET", "city": "MARLBORO", "state": "MA", "zip": "01752", "phone": "508-357-2221"}, "mail-address": {"street1": "138 BARTLETT STREET", "city": "MARLBORO", "state": "MA", "zip": "01752"}}
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
March 9, 2012
Date of Report (date of earliest event
reported)
EVERGREEN SOLAR, INC.
(Exact name of Registrant as specified
in its charter)
Delaware
000-31687
04-3242254
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(I.R.S. Employer
Identification Number)
138 Bartlett Street
Marlboro, Massachusetts 01752
(Address of principal executive offices)
(508) 357-2221
(Registrant's telephone number,
including area code)
(Former name or former address, if changed
since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
£
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
1.01 Entry into a Material Definitive Agreement.
As previously disclosed, on August 15, 2011, Evergreen
Solar, Inc. (the "Company"), pursuant to the provisions of the United States Bankruptcy Code (the "Bankruptcy
Code"), filed a voluntary petition in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy
Court") seeking relief under the provisions of chapter 11 of the Bankruptcy Code (Case No. 11-12590) (the "Bankruptcy
Case"). Also as previously disclosed, the Company has sold substantially all of its assets, excluding the Company's
facility located at Devens, Massachusetts and certain equipment therein (the "Devens Assets") pursuant to asset sales
under Section 363 of the Bankruptcy Code.
In connection with the Bankruptcy Case, the Company and
Hackman Capital Acquisition Company, LLC, as purchaser (the "Devens Assets Purchaser"), entered into an Asset Purchase
Agreement, dated as of March 9, 2012 (the "Devens Assets Purchase Agreement"), pursuant to which the Company agreed
to sell the Devens Assets to the Devens Assets Purchaser. Pursuant to the terms of the agreement, the Devens Assets Purchaser has
agreed to purchase the Devens Assets for $8,530,000, subject to certain adjustments as described therein.
To facilitate the consummation of the transactions contemplated
by the Devens Assets Purchase Agreement, the Company, Massachusetts Development Finance Agency ("MassDev") and 112
Barnum Road, LLC (the "Purchaser Affiliate"), an affiliate of the Devens Assets Purchaser, entered into that certain
Settlement Agreement and Release, dated as of March 11, 2012 (the "Settlement Agreement"), pursuant to which, subject
to the closing of the sale of the Devens Assets, the Company will direct the Devens Assets Purchaser to pay a portion of the purchase
price under the Devens Assets Purchase Agreement directly to MassDev; MassDev will convey title to the land located in Devens,
Massachusetts to the Purchaser Entity; and the Company and MassDev will settle all outstanding claims against one another, among
other things.
The Devens Assets are to be sold pursuant to Sections 105,
363 and 365 of the Bankruptcy Code, and the agreements described herein are subject to the issuance by the Bankruptcy Court of
an order approving the transaction (the "Sale Order").
Consummation of the sale of the Devens Assets pursuant
to the Devens Asset Purchase Agreement is subject to a number of customary conditions, including, among others, conditions related
to accuracy of the representations and warranties of the parties; material compliance by the parties with their obligations under
the governing agreement; and compliance with the Bankruptcy Code.
The Devens Assets Purchase Agreement may be terminated
under a number of circumstances, including breach of certain representations and covenants and the revocation of the Sale Order.
The foregoing description of the transactions contemplated
by the Devens Assets Purchase Agreement and the Settlement Agreement does not purport to be complete and is qualified in its entirety
by reference to the Devens Assets Purchase Agreement and the Settlement Agreement, which are filed as Exhibits 2.1 and 2.2 hereto
and are incorporated herein by reference.
Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K, contains forward-looking
statements, including the Company's intent to close the sale of the Devens Assets to the Devens Assets Purchaser and the
potential effects of the Settlement Agreement. Such forward-looking statements are subject to risks and uncertainties which could
cause them to differ materially from those currently anticipated in such statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include our ability to comply with and meet the conditions set forth
in the agreements governing such transaction in order to close the sale and our ability to obtain a Sale Order. Forward-looking
statements speak only as of the date they are made and the Company disclaims any obligation to publicly update or revise any such
statements to reflect any change in Company expectations, or in events, conditions or circumstances on which any such statements
may be used, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
No.
Description
2.1
Asset Purchase Agreement (Devens Assets), dated March 9, 2012, between the Company and Hackman Capital Acquisition Company, LLC
2.2
Settlement Agreement and Release, dated March 11, 2012, among the Company, Massachusetts Development Finance Agency and 112 Barnum Road, LLC
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Evergreen Solar, Inc.
By:
/s/ Christian M. Ehrbar
Name: 	Christian M. Ehrbar
Title: 	President and Chief Executive Officer
Dated March 15, 2012
EXHIBIT INDEX
Exhibit Number
Description
2.1
Asset Purchase Agreement (Devens Assets), dated March 9, 2012, between the Company and Hackman Capital Acquisition Company, LLC
2.2
Settlement Agreement and Release, dated March 11, 2012, among the Company, Massachusetts Development Finance Agency and 112 Barnum Road, LLC