April 1, 2011
A123 Plans $123M Offering
Battery maker A123 Systems Inc., which is based in Waltham and has operations in Westborough, is seeking at least $123.3 million in stock and bond financing.
The company plans to use the proceeds for general corporate purposes.
The company announced an offering of 18 million shares of common stock at $6 per share and $125 million in subordinated notes due in 2016. Underwriters also have a 30-day option to buy up to an additional 2.7 million shares of stock and up to an $18.8 million aggregate principal amount of the convertible notes.
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