A123 Systems (AONE) IPO Jumps Higher

September 24, 2009 11:02 AM EDT

The IPO for A123 Systems, Inc. (Nasdaq: AONE) is open for trading. Shares are trading at $16.84 after pricing 28,180,501 shares at $13.50.

Morgan Stanley & Co. Incorporated and Goldman, Sachs & Co. acted as joint book-running managers for the offering. BofA Merrill Lynch, Deutsche Bank Securities Inc., Lazard Capital Markets LLC, and Pacific Crest Securities acted as co-managers of the offering.

A123 Systems develops and manufactures advanced lithium-ion batteries and battery systems for the transportation, electric grid services and consumer markets. Founded in 2001 and headquartered in Massachusetts, A123 Systems' proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology.


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