A123 IPO Raises Price 23 Percent
NEW YORK - Lithium-ion car battery maker A123 Systems Inc (AONE.O) on Tuesday raised the estimated price of its initial public offering by 23 percent and now expects proceeds of about $276 million.
A123 estimated it will sell 25.7 million shares at $10 to $11.50 apiece, according to a filing with the U.S. Securities and Exchange Commission. The original price range was $8 to $9.50.
The IPO is set to price on Wednesday and start trade on Nasdaq the following day,
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