In August, A123systems Company announced that it filed an S-1 registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering (IPO) of up to $175 million of its common stock on the NASDAQ Global Market under the ticker symbol “AONE“. The company A123 has already raised over $132 million in venture funding and reportedly have “essentially completed” their IPO filing. A123systems stock symbol name is given here for the details about the stock exchange (Shares) for this company.
The S-1 should arrive at the SEC within a month, and that the “road show” may take place in this month. Goldman, JPMorgan and Merrill are chosen as the bankers. According to a blog post citing inside sources Watertown Massachusetts battery-maker A123 Systems, the GM Volt partner is reportedly about to file for their IPO.
A123systems is a company that develops and manufactures lithium-ion batteries and battery systems for the transportation, electric grid services, and portable power markets.
Fast fact about A123systems Company
- In 2001, A123 Systems was founded to commercialize new battery technology developed at the Massachusetts Institute of Technology.
- In 2006, the company began selling its first products commercially and its revenue was $34.3 million for the year ended on December 31.
- In 2007, the company’s revenue was $41.3 million for the year ended on December 31 and $10.3 million for the three months ended on March 31, 2008.
- After March 31, 2008, in A123 Systems’ S-1 filing, the company stated that it raised $102,085,005 in equity financing (6,152,553 shares of Series E convertible preferred stock at $16.59 per share).
- The company had also received aggregate net proceeds of approximately $266.1 million since its founding from the financing activities of private placements of preferred stock, common stock, convertible promissory notes, demand notes, term loans, revolving credit facilities and other credit facilities.
Investors in A123 Systems include General Electric, Procter & Gamble, Alliance Capital, Motorola, Qualcomm, North Bridge Venture Partners, Sequoia Capital, CMEA Ventures, FA Technology Ventures, On Point, Carruth Management, the Massachusetts Institute of Technology, and Desh Deshpande (A123 Systems’ board chair).
According to an article on Monday in the Wall Street Journal, Pricing per share had been estimated at $8 to $9.50 but now, buzz on the company and its current progress is pushing the estimated price to $10 to $11.50.
According to an article in Mass High Tech, the offering also has been called a “bellweather” for cleantech investments, since it’s the first IPO for a venture-backed cleantech company in 2009.
Source: greenvc.org/2008/09/a123-systems-fi.
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