GE Invested $30M More in A123

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 Editor in chief. E-mail him at gthuang [at] xconomy.com. Follow @gthuang

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2 responses to “GE Invested $30M More in A123”

  1. Sa Surmeli says:

    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.

  2. Sa Surmeli says:

    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.