Quantum closes $11.5 mn public offering of common stock
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23 Feb 2015
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Quantum Fuel Systems Technologies Worldwide, Inc., a leader in natural gas storage systems, integration, and vehicle systems technologies, announced the closing of its previously announced underwritten offering of its common stock. The Company raised USD 11.5 million in gross proceeds by issuing 4,600,000 shares of its common stock, which included the issuance of an additional 600,000 shares as a result of the exercise of the underwriters' over-allotment option, at a price to the public of USD 2.50 per share. Cowen and Company, LLC and FBR Capital Markets & Co. acted as joint bookrunners for the offering. Net proceeds from the sale of the shares after underwriting discounts and estimated offering expenses were approximately USD 10.54 million. The Company intends to use the net proceeds of the offering for general corporate and working capital purposes. |
| Source: Dion Global Type: IPO Related |
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