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A123 (AONE) IPO Charges Ahead
The much anticipated A123 Systems IPO is closer to a reality after a year long wait following its IPO registration on 8/8/08. While the launch date has yet to be announced (most likely between Sept 21 – 25), the lithium battery company revealed the expected stock price of $8 – $9.50/share last week and plans to sell 25 million shares, raising more than $200 million in the process. When the stock begins trading, it will trade under the ticker symbol AONE. In the meantime, the company will build anticipation with a road show that begins this week.
It’s difficult to say how traders will react to the stock. This is company that has lost 10’s of millions of dollars and has never turned a profit, but is a leading player in the lithium battery space with big name investors. A123 has raised more than $300 million in venture capital funding from the likes of Qualcomm, General Electric, Motorola, Proctor & Gamble and famed venture capital firm Sequoia Capital, among other smaller firms. They also received nearly $250 million in August in government stimulus cash.
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Sep.14
More info on A123’s IPO…scheduled for the week of Sept 21.
http://www.renaissancecapital.com/ipohome/ipoprofile.aspx?ticker=AONE