A123 Files for IPO

A123Systems, a Watertown, Mass.-based maker of lithium-ion batteries, has filed for a $175 million IPO. It plans to trade on the Nasdaq under ticker symbol AONE, with Morgan Stanley and Goldman Sachs serving as co-lead underwriters.

The company has raised $234 million in total VC funding. Backers include General Electric, Procter & Gamble, Alliance Capital, Motorola, Qualcomm, North Bridge Venture Partners, Sequoia Capital, CMEA Ventures, FA Technology Ventures, OnPoint, Carruth Management, the Massachusetts Institute of Technology and board chairman Desh Deshpande. Read more…