Investors Fall In Love With A123 Systems (AONE) IPO; Stock Up 40%
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Investors are flocking to today's hot IPO for lithium-ion battery maker A123 Systems, Inc. (Nasdaq: AONE). After pricing at $13.50 and opening around $17, shares have now moved above $19. That's a 40% gain if you got in on the IPO!
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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