A start-up with a battery to challenge lithium-ions has announced its initial public offering. A123 Systems has commercialized materials developed at MIT.
From the link:
A123’s success so far is due to its ability to develop ways to manufacture its nanostructured materials. The company’s competitors might solve similar problems themselves and produce batteries that could outperform A123’s. A123 has responded by investing heavily in research and development.
Here is the company’s release on the IPO news:
A123 Systems Files Registration Statement for Initial Public Offering
WATERTOWN, Mass.–(BUSINESS WIRE)–A123 Systems, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock.
The joint book-running managers of the proposed offering will be Morgan Stanley & Co. Incorporated and Goldman Sachs & Co. Merrill Lynch, Pierce, Fenner & Smith Incorporated will serve as co-lead manager, and Broadpoint Capital, Inc. and Lazard Capital Markets LLC will serve as co-managers.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Once available, a preliminary prospectus relating to these securities may be obtained from Morgan Stanley & Co. Incorporated, Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 866-718-1649 or by emailing email@example.com and from Goldman Sachs & Co., Prospectus Department, 100 Burma Road, Jersey City, NJ 07035, telephone: 212-902-1171, facsimile: 212-902-9316 or by emailing firstname.lastname@example.org
About A123 Systems
A123 Systems develops and manufactures advanced lithium-ion batteries and battery systems for the transportation, electric grid services and portable power markets. Founded in 2001 and headquartered in Massachusetts, A123 Systems’ patented Nanophosphate™ technology includes nanoscale materials initially developed at and exclusively licensed from the Massachusetts Institute of Technology.