Battery-Maker A123 Systems Moves Closer To IPO

Sep 11 2009 | 12:57pm ET

Massachusetts-based battery-maker A123 is on the verge of going public, having re-filed its IPO papers last month. Underwriters have set terms of the offering at 25 million shares at an estimated $8 to $9.50 apiece.

The startup raised $100 million this summer from investors including General Electric, North Bridge Venture Partners and Qualcomm Inc, and last month received a $249.1 million electric- car-battery grant from the U.S. Department of Energy (DoE).

Chrysler has chosen the company to produce lithium-ion batteries for its planned electric cars.

A123 first filed its IPO plans with the U.S. Securities and Exchange Commission in August 2008. The battery maker would be the first U.S. cleantech company to go public since July 2008.

RELATED LINKS:

A123 Systems

 


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...