CleanBeta

Battery Start-Up A123 to Announce IPO

A123 Systems, an advanced battery start-up in Massachusetts, will likely announce plans for an IPO any day now, according to Scott Kirsner.

Although the company has been the subject of IPO rumors for months, a company spokesperson said the battery-maker had no IPO plans in the works. In any event, A123 has attracted investments from Black & Decker, GM and General Electric as well as several blue-chip venture capital outfits.

The $150 million A123 has raised more than $150 million since the lithium-ion battery maker was created in 2001 lends some credence to speculation that its IPO could raise more than $1 billion.

Although the IPO itself remains months off in the future, the plan itself appears to be locked and loaded with Goldman, JP Morgan, and Merrill signed on as principal underwriters and a road show scheduled for September. If the company files its S-1 in the next few weeks, it will be on schedule for on track for a fall IPO, which many consider a promising IPO time period.