SAN FRANCISCO, Dec. 22, 2011 /PRNewswire/ -- Merriman Capital,
Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX:
MERR), today announced that it acted as sole book-running manager
for Quantum Fuel Systems Technologies Worldwide, Inc.'s (NASDAQ:
QTWW) public offering which closed yesterday, December 21, 2011.
(Logo:
http://photos.prnewswire.com/prnh/20100914/SF64919LOGO)
The proceeds to Quantum from the offering, net of underwriting
discounts, were approximately $9.2
million before the exercise, if any, of a 30-day
over-allotment option granted to the underwriters. The Company used
the net proceeds, together with cash on hand, to repay
approximately $10 million of
principal and accrued interest for certain of the Company's
outstanding indebtedness owing to the Company's senior secured
lender and the payment of certain offering expenses.
JP Turner & Company LLC acted as joint lead-manager in the
transaction. For more details on the transaction, please visit
Quantum's website: http://www.qtww.com/.
About Quantum
Quantum Fuel Systems Technologies Worldwide, Inc., a fully
integrated alternative energy company, is a leader in the
development and production of advanced propulsion systems, energy
storage technologies, and alternative fuel vehicles. Quantum's
wholly owned subsidiary, Schneider Power Inc., and affiliate Asola
Solarpower GmbH complement Quantum's emerging renewable energy
presence through the development and ownership of wind and solar
farms, and manufacture of high efficiency solar modules. Quantum's
portfolio of technologies includes electronic controls, hybrid
electric drive systems, natural gas and hydrogen storage and
metering systems and alternative fuel technologies that enable fuel
efficient, low emission hybrid, plug-in hybrid electric, fuel cell,
and natural gas vehicles. Quantum's powertrain engineering, system
integration, vehicle manufacturing, and assembly capabilities
provide fast-to-market solutions to support the production of
hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell,
natural gas fuel, and specialty vehicles, as well as modular,
transportable hydrogen refueling stations. Quantum's customer base
includes automotive OEMs, dealer networks, fleets, aerospace
industry, military and other government entities, and other
strategic alliance partners.
About Merriman Capital, Inc.
Merriman Capital, Inc. is an investment banking firm providing
equity and options execution services, market making, and
differentiated research for high growth companies. We also provide
capital raising, advisory, and M&A services. Merriman Capital,
Inc. is a wholly owned subsidiary of Merriman Holdings, Inc.
(OTCQX: MERR) and is the leading investment banking firm for OTCQX
companies. For more information, please go to
http://www.merrimanco.com/.
Merriman Capital, Inc. is a registered broker-dealer and member
of The Financial Industry Regulatory Authority (FINRA)
http://www.finra.org/ and the Securities Investor Protection
Corporation (SIPC) http://www.sipc.org/contact.cfm.
Note to Investors
This press release contains certain forward-looking
statements based on our current expectations, forecasts and
assumptions that involve risks and uncertainties. This release does
not constitute an offer to sell or a solicitation of offers to buy
any securities of the Company. Forward-looking statements in this
release are based on information available to us as of the date
hereof. Our actual results may differ materially from those stated
or implied in such forward-looking statements, due to risks and
uncertainties associated with our business, which include the risk
factors disclosed in our Form 10-K/A filed on April 28, 2011 and our Form 10-Q filed on
November 14, 2011. Forward-looking
statements include statements regarding our expectations, beliefs,
intentions or strategies regarding the future and can be identified
by forward-looking words such as "anticipate," "believe," "could,"
"estimate," "expect," "intend," "may," "should," and "would" or
similar words. We assume no obligation to update the information
included in this press release, whether as a result of new
information, future events or otherwise. The Form 10-K/A filed on
April 28, 2011 and 10-Q filed on
November 14, 2011, together with this
press release and the financial information contained herein, are
available on our website, www.merrimanco.com. Please click on
"Investor Relations."
SOURCE Merriman Holdings, Inc.