On September 24, 2009
A123’s IPO Already Bringing Hope to Other Cleantech Startups
Hours ahead of battery maker A123 Systems’ initial public offering, optimism is already running high that the company will crack open a stagnant market and convince investors that they should also buy into other stock offerings. A123 made an 11th-hour call yesterday to raise the price its opening price by 23 percent, to a range of $10 to $11.50. If the company gets traction it will bring in about $250 million. That’s not bad, for a firm that lost $40.7 million in the first half of the year. Its revenue was only slightly higher, at $42.9 million. But A123 is well positioned. It started off selling batteries into the power tool market. That led to electric cars — which are…
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