investment, deals, energy
GE Invested $30M More in A123
Gregory T. Huang 10/22/08
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 the Editor of Xconomy Seattle. You can e-mail him at gthuang@xconomy.com or call 206-624-2249.
10/23/08 10:15 am
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.
10/23/08 10:18 am
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.