A123Systems Zeroes In On IPO, Sets Terms Finally

The Massachusetts-based lithium-ion battery maker has finally set the terms for its IPO in a new filing with the SEC, proposing to sell 25 million common shares at $8 to $9.50 per share. Individual shareholders expect to sell an additional 680,500 shares. The company snagging a whopping $249 million grants from the Department of Energy last month to help it carry out a plan for setting up commercial manufacturing in the United States. The company has raised more than $350 million from private investors, and A123’s offering (set by underwriters including Morgan Stanley and Goldman Sachs) would raise between $200 million and $237.5 million in the IPO, up from the $175 million it initially filed to raise in 2008

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