Capstone Turbine Announces Common Stock Offering
May 01 2014 - 8:30AM
Capstone Turbine Corporation (Nasdaq:CPST) (the "Company") today
announced that it has entered into an underwriting agreement to
sell 18,825,000 shares of its common stock at a price to the public
of $1.70 per share for gross proceeds of approximately $32.0
million. The shares were allocated to a single institutional
investor. The net proceeds from the sale of the shares, after
underwriting discounts and commissions, will be approximately $30.2
million. The offering is expected to close on or about May 6, 2014,
subject to the satisfaction of customary closing conditions. The
Company intends to use the proceeds from the offering to fund
general working capital requirements and for other general
corporate purposes.
Cowen and Company, LLC and FBR & Co. are acting as the
book-running managers of the offering. Craig-Hallum Capital Group,
LLC is co-manager of the offering.
A shelf registration statement relating to the above-described
securities was previously filed and declared effective by the
Securities and Exchange Commission (the "SEC"). The offering is
being made only by means of a preliminary prospectus supplement and
accompanying base prospectus forming a part of the effective
registration statement. Copies of the preliminary prospectus
supplement and accompanying base prospectus, and when available,
the final prospectus supplement, related to this offering may be
obtained from the SEC's website at http://www.sec.gov. When
available, electronic copies of the preliminary prospectus
supplement, the final prospectus supplement and accompanying base
prospectus related to this offering may also be obtained from Cowen
and Company, LLC (c/o Broadridge Financial Services, 1155 Long
Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department,
Phone: 631-274-2806, Fax: 631-254-7140). Before you invest, you
should read the preliminary prospectus supplement, the final
prospectus supplement and the accompanying base prospectus in the
registration statement and other related documents incorporated by
reference therein.
This press release does not constitute an offer to sell or the
solicitation of offers to buy any securities of the Company, and
shall not constitute an offer, solicitation or sale of any security
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About Capstone Turbine Corporation
Capstone Turbine Corporation (Nasdaq:CPST) is the world's
leading producer of low-emission microturbine systems, and was the
first to market commercially viable microturbine energy products.
Capstone Turbine has shipped approximately 7,000 Capstone
Microturbine systems to customers worldwide. These award-winning
systems have logged millions of documented runtime operating hours.
Capstone Turbine is a member of the U.S. Environmental Protection
Agency's Combined Heat and Power Partnership, which is committed to
improving the efficiency of the nation's energy infrastructure and
reducing emissions of pollutants and greenhouse gases. A
UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company,
Capstone is headquartered in the Los Angeles area with sales and/or
service centers in the New York Metro Area, United Kingdom, Mexico
City, Shanghai and Singapore.
"Capstone" and "Capstone MicroTurbine" are registered trademarks
of Capstone Turbine Corporation. All other trademarks mentioned are
the property of their respective owners.
The Capstone Turbine Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6212
CONTACT: Capstone Turbine Corporation
ir@capstoneturbine.com, 818-407-3628
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