Capstone Turbine Corporation Announces Offering of Common Stock and Warrants
April 18 2016 - 5:40PM
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST), the world's leading clean technology manufacturer of
microturbine energy systems, announced today that it intends to
offer shares of its common stock (“Common Stock”) and Series A
warrants to purchase Common Stock (the “Series A Warrants”) in an
underwritten public offering (the “Offering”). The Company also
intends to include in the Offering pre-funded Series B warrants to
purchase Common Stock (the “Series B Warrants,” together with the
Series A Warrants, the “Warrants”), which would be offered to those
purchasers whose purchase of Common Stock in the Offering otherwise
would result in the purchaser beneficially owning more than 4.99%
of the Company’s outstanding common stock following the completion
of the Offering. The Offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
Offering may be completed, or as to the actual size or terms of the
Offering. The Company intends to use the proceeds from the Offering
to fund general working capital requirements and for other general
corporate purposes.
Oppenheimer & Co. Inc. is acting as the sole book-running
manager for the Offering, and Rodman & Renshaw, a unit of H.C.
Wainwright & Co., LLC, is acting as the co-manager in the
Offering.
The Common Stock and the Warrants are being offered pursuant to
the Company’s effective shelf registration statement on Form S-3
(Registration No. 333-203431). The Offering will be made only by
means of a prospectus supplement and accompanying base prospectus.
When available, copies of the preliminary prospectus supplement,
the final prospectus supplement and accompanying base prospectus
related to the Offering (the “Offering Documents”) may be obtained
from the Securities and Exchange Commission’s website at
http://www.sec.gov. When available, electronic copies of the
Offering Documents may also be obtained from Oppenheimer & Co.
Inc., 85 Broad Street, 26th Floor, New York, NY 10004, Attn:
Syndicate Prospectus Department, by calling (212) 667-8563, or by
email to EquityProspectus@opco.com. Before you invest, you should
read the Offering Documents 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 (www.capstoneturbine.com)
(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 has shipped
approximately 8,700 Capstone Microturbine systems to customers
worldwide. These award-winning systems have logged millions of
documented runtime operating hours. Capstone 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.
The Capstone Turbine Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains “forward-looking statements,” as
that term is used in the federal securities laws, about the
Offering, including our intended use of the proceeds therefrom.
Forward-looking statements may be identified by words such as
“expects,” “objective,” “intend,” “targeted,” “plan” and similar
phrases. These forward-looking statements are subject to market and
other conditions and numerous other assumptions, risks and
uncertainties, including those described in Capstone's filings with
the Securities and Exchange Commission, that may cause the Offering
not to be completed or that may otherwise cause Capstone's actual
results to be materially different from any future results
expressed or implied in such statements. Capstone cautions readers
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this release. Capstone
undertakes no obligation, and specifically disclaims any
obligation, to release any revisions to any forward-looking
statements to reflect events or circumstances after the date of
this release or to reflect the occurrence of unanticipated
events.
“Capstone” and “Capstone MicroTurbine” are registered trademarks
of Capstone Turbine Corporation. All other trademarks mentioned are
the property of their respective owners.
CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
INVESTORS:
Dian Griesel Int’l
Cheryl Schneider
212-825-3210
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