A123 Systems files for initial public offering

Many of you who have been pestering us in the comments for the past couple of years about wanting to invest in A123 Systems and you may now have your chance. A123 is the Massachusetts based company that has developed a lithium ion battery chemistry based on nano particle iron phosphate. A123 has two deals to provide development batteries for GM's Saturn Vue plug-in hybrid and Chevrolet Volt ER-EV as well as a deal with Norwegian EV maker Th!nk. The startup battery company has filed the initial SEC paperwork for an initial public offering of stock. So far A123 hasn't indicated when a stock sale will take place although sometime in the first half of 2009 is likely to be the earliest possibility. No word on pricing but a prospectus should be available soon.
[Source: A123 Systems]

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