Right Lane Cruiser
09-24-2009, 08:46 AM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg A123 Systems, closely-watched as one of just a few American electric car battery makers, sees public offering price at $13.50 a share -- well above expected range. (http://money.cnn.com/2009/09/24/news/companies/a123_ipo/?postversion=2009092405)
http://www.cleanmpg.com/photos/data/501/A123Systems.jpgSteve Hargreaves - CNN (http://money.cnn.com) - September 24, 2009
There is huge potential in this company, and it is obviously recognized! --Ed.
NEW YORK -- A123 Systems, one of just a handful of U.S.-based makers of batteries for electric cars, far exceeded expectations when its initial public offering priced Wednesday after the bell.
The offering was priced at $13.50 a share, well above the originally proposed range, and raised $380 million, according to a Securities and Exchange Commission filing.
Trading in the firm's shares will begin Thursday morning on Nasdaq under the ticker symbol AONE (AONE).
Interest in the company is running high. "I heard it was standing room only at many of the presentations," before money managers, said one person familiar with the firm.
The company is closely watched for several reasons.
For starters, the Massachusetts-based firm, an outgrowth of the research labs at the Massachusetts Institute of Technology, is one of just a few American companies that are competing with much larger Asian rivals for the potentially lucrative hybrid and plug-in electric car battery market.
Many analysts believe electric cars will begin replacing internal combustion engines, refueling with nuclear or renewable-generated... http://money.cnn.com/2009/09/24/news/companies/a123_ipo/?postversion=2009092405
http://www.cleanmpg.com/photos/data/501/A123Systems.jpgSteve Hargreaves - CNN (http://money.cnn.com) - September 24, 2009
There is huge potential in this company, and it is obviously recognized! --Ed.
NEW YORK -- A123 Systems, one of just a handful of U.S.-based makers of batteries for electric cars, far exceeded expectations when its initial public offering priced Wednesday after the bell.
The offering was priced at $13.50 a share, well above the originally proposed range, and raised $380 million, according to a Securities and Exchange Commission filing.
Trading in the firm's shares will begin Thursday morning on Nasdaq under the ticker symbol AONE (AONE).
Interest in the company is running high. "I heard it was standing room only at many of the presentations," before money managers, said one person familiar with the firm.
The company is closely watched for several reasons.
For starters, the Massachusetts-based firm, an outgrowth of the research labs at the Massachusetts Institute of Technology, is one of just a few American companies that are competing with much larger Asian rivals for the potentially lucrative hybrid and plug-in electric car battery market.
Many analysts believe electric cars will begin replacing internal combustion engines, refueling with nuclear or renewable-generated... http://money.cnn.com/2009/09/24/news/companies/a123_ipo/?postversion=2009092405