Deal sells 12.5 million units of one share, one warrant at $2.034 each
By Devika Patel
Knoxville, Tenn., Jan. 20 - A123 Systems Inc. said it will conduct a $25.43 million registered direct offering of units. Lazard Capital Markets LLC is the agent for the deal.
The company will sell 12.5 million units of one common share and one warrant at $2.034 per unit, with each warrant exercisable at $2.71 for two years.
The strike price reflects a 19.91% premium to the Jan. 19 closing share price of $2.26.
Settlement is expected Jan. 25.
Based in Waltham, Mass., A123 designs, develops, manufactures and sells rechargeable lithium-ion batteries and battery systems.
| Issuer: | A123 Systems Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $25,425,000
|
| Units: | 12.5 million
|
| Price: | $2.034
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $2.71
|
| Agent: | Lazard Capital Markets LLC
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 25
|
| Stock symbol: | Nasdaq: AONE
|
| Stock price: | $2.26 at close Jan. 19
|
| Market capitalization: | $298.8 million
|
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