GE Invested $30M More in A123

10/22/08Follow @gthuang

GE announced today it invested an additional $30 million in A123Systems, the Watertown, MA-based battery maker. That brings GE’s total investment in A123 to $55 million, or a 9 percent ownership stake. According to the announcement, the $30 million was part of a $102 million Series E round raised by A123 in May, but the particulars of the financing had not been confirmed by A123.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com. Follow @gthuang

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  • http://www.mintz.com Sa Surmeli

    Thanks for the post. Based on the Registration Statement that A123 has on file with the SEC, this is not a new funding. The $102 million Series E round was all in the first half of 2008. Here’s what the company says in its registration statement:

    On May 6, 2008, May 30, 2008 and June 16, 2008, we sold an aggregate of 6,152,553 shares of our series E convertible preferred stock to 15 accredited investors at a purchase price of $16.59 per share for aggregate proceeds of $102.1 million.

  • http://www.mintz.com Sa Surmeli

    Thanks for the post. Based on the Registration Statement that A123 has on file with the SEC, this is not a new funding. The $102 million Series E round was all in the first half of 2008. Here’s what the company says in its registration statement:

    On May 6, 2008, May 30, 2008 and June 16, 2008, we sold an aggregate of 6,152,553 shares of our series E convertible preferred stock to 15 accredited investors at a purchase price of $16.59 per share for aggregate proceeds of $102.1 million.