Woburn, Mass.
Went public 11/17/00 at $6 per share
Filing Range: 8.0 million shares @ $6 to $8
Shares Outstanding: 38.6 million shares
Underwriters: Salomon Smith Barney/Banc of America Securities/CIBC World Markets
Company Counsel: Edwards & Angell
Manager Counsel: Cravath, Swaine & Moore
Auditor: Deloitte & Touche LLP
The Company:
Develops and manufactures flywheel energy storage systems. Flywheel systems draw electrical energy from a primary power source such as the electric grid or a fuel cell, store that energy, and then convert that energy to immediately provide uninterruptible electric power when the primary power source fails or is disrupted.
Venture Backers:
DQE Inc.
Beacon Partners Inc.
GE Equity
Penske Capital Partners
Perseus LLC
Financing Rounds
Number of Round Amt.
Round # Round Date Stage Investors ($ thousands)
1 10/23/1998 3 Early Stage 4749.9
2 04/07/2000 3 Expansion 3825.9
3 05/23/2000 6 Later Stage 28500.0
Financials:
(Data in $ millions)
Y/E
12/31/99
Total Revenues: 0.3
Net Income: -5.7