WATERTOWN - A123 Systems Inc., which makes lithium-ion batteries, has closed its initial public offering of 32.4 million shares and raised $437.5 million, the company said yesterday.
A123 sold the shares at $13.50 each, including 31.7 million shares that were sold by the company and 680,501 shares sold by shareholders.
Morgan Stanley & Co. and Goldman, Sachs & Co. were the joint book-running managers for the offering.
BofA Merrill Lynch, Deutsche Bank Securities Inc., Lazard Capital Markets LLC, and Pacific Crest Securities were the comanagers.
