12 Comments

Summary:

One more look back at 2009 — the $371 million IPO of lithium battery maker A123Systems back in late September, was the largest of last year, according to a report from Dow Jones VentureSource. Investors definitely had confidence in the company on September 24, 2009, and […]

One more look back at 2009 — the $371 million IPO of lithium battery maker A123Systems back in late September, was the largest of last year, according to a report from Dow Jones VentureSource. Investors definitely had confidence in the company on September 24, 2009, and that morning A123 Systems’ stock leapt more than 50 percent to close at $20.29 per share after pricing at $13.50 per share.

First off, A123 Systems’ lead makes the IPO prospects for greentech firms, and particularly electric vehicle companies, in 2010 look pretty good. The IPO market in 2009 was still very “anemic,” points out Dow Jones VentureSource. A123 Systems represented about a third of the overall IPO market in 2009 (about $900 million in all of 2009, see graphic below).

A123Systems’ killer IPO could be a good indicator for the success of Tesla, the electric vehicle company, in 2010, if it plans to go public. A Tesla IPO could be the biggest and possibly the first public offering for a U.S. car company since Ford Motor’s IPO more than 50 years ago.

But all greentech isn’t created equal. So it will be interesting to see how much Solyndra, the thin film solar firm, or Codexis, the biocatalyst developer, will be able to raise. Solyndra has certainly been able to raise a ton of money from the private sector — close to $1 billion, the most I’ve ever heard of being raised by a startup.

The other big question for 2010 is: Will the IPO market return considerably? Analysts at Dow Jones VentureSource think so. The researchers note that there are 25 venture-backed companies currently in IPO registration, and that “it is clear that many entrepreneurs and their investors expect the market to improve in the coming year.”

You’re subscribed! If you like, you can update your settings

  1. After IPO, A123Systems Endures a Fickle Market Wednesday, January 6, 2010

    [...] while bears can be caught off guard when they start to make money. As A123Systems has shown since its IPO last September, the lithium-ion battery market is no exception to this [...]

  2. 2009: Cleantech VC Hits $5.6B, Asia Emerges as IPO/M&A Hub Wednesday, January 6, 2010

    [...] battery maker A123Systems was the second-largest IPO (and the largest in the U.S.) with its $380 million offering in the third quarter of last year. The largest acquisition by value last year was [...]

  3. Redpoint’s Scott Raney: Things Looking Up Thursday, January 7, 2010

    [...] with bloated amounts of funds looking for a place to go. But there were some victories — some IPOs even, and 2010 is looking a lot [...]

  4. 20 Battery Startups Hitting the Road With Lithium-ion Thursday, January 14, 2010

    [...] of the startups on our original list — A123Systems — went on to have the biggest public offering of 2009 (now that it’s publicly traded, we’re still tracking ‘em but cut the company from [...]

  5. 19 Green IPOs On Deck This Year, More to Come Thursday, April 15, 2010

    [...] thanks to lithium battery maker A123System’s (a AONE) $371 million IPO in late September (the largest IPO in the U.S. last year) and the massive $2.23 billion IPO of China Longyuan Electric Power Group in the fourth quarter of [...]

  6. 19 Green IPOs On Deck This Year, More to Come « Blog of Intellectual Capital Monday, April 19, 2010

    [...] thanks to lithium-ion battery maker A123Systems’ (a AONE) $371 million IPO in late September (the largest IPO in the U.S. last year) and the massive $2.23 billion IPO of China Longyuan Electric Power Group in the fourth quarter of [...]

  7. A123 Looks to Grow the Lil’ Business That Could: Grid Storage Friday, April 23, 2010

    [...] the lithium-ion battery maker that opened the floodgates on greentech IPO filings with its $371 million public offering last fall, collected a $5 million loan commitment this week from its home state of Massachusetts. [...]

  8. Will Tesla Follow A123′s Stock Trajectory? Thursday, July 1, 2010

    [...] $371 million IPO was the largest of 2009, representing about a third of the overall IPO market that year in terms of dollars raised. On the [...]

  9. The Key to Greentech IPOs: Government Backing | iPhone, iPad Weblog Friday, July 2, 2010

    [...] A123Systems. The venture-backed company raised $371 million in its public debut in 2009, which was the largest IPO of the year, and represented about a third of the overall IPO market that year in terms of dollars raised. A123 [...]

  10. The Key to Greentech IPOs: Government Backing Friday, July 2, 2010

    [...] A123Systems. The venture-backed company raised $371 million in its public debut in 2009, which was the largest IPO of the year, and represented about a third of the overall IPO market that year in terms of dollars raised. A123 [...]

Comments have been disabled for this post