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Lithium-ion battery maker A123Systems Inc. priced its initial public offering at $13.50 cents Thursday, which would bring in some $378 million in funding.
The pricing was above the $10 to $11.50 per share range the Watertown-based company offered Tuesday, which ballooned from the $9 to $9.50 range initially offered. Its shares trade in the Nasdaq Global Market under the ticker “AONE.”
A123 became the second venture-backed company in Massachusetts to go public in 2009. The other, Woburn-based remote connectivity services firm LogMeIn Inc., generated $107 million in its IPO in July, and its stock is currently up nearly 28 percent.
News of the trading comes just a month after A123 secured $249 million in U.S. Department of Energy funding to build an electric-vehicle battery plant in Michigan and five months after Chrysler Group LLC chose it to power the automaker’s line of hybrid electric cars.
Last week, Mass High Tech reported that A123’s upcoming IPO announcement would be watched with eager eyes by the still-emerging local cleantech industry, which has relatively few, successful public companies when compared with other industry clusters. The story notes that if the A123’s investors — which include Waltham’s North Bridge Venture Partners and Braemar Energy Ventures in Boston — do well, the proceeds could be used to invest in new companies, unclogging what many cleantech players say is a backed-up startup pipeline.
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