UQM Technologies, Inc. Completes $5.2 Million Private Placement
June 26 2007 - 5:25PM
PR Newswire (US)
FREDERICK, Colo., June 26 /PRNewswire-FirstCall/ -- UQM
TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy
technologies, announced today that it has completed a private
placement of 1,250,000 shares of its common stock to Heartland
Advisors on behalf of two of its advisory clients, Heartland Value
Fund and Turn of the Tide, a Wisconsin Limited Partnership. Net
cash proceeds to the Company from the transaction were
approximately $5.2 million. The common stock offered by UQM
Technologies, Inc. to the accredited investors in the private
placement has been sold in reliance on an exemption from the
registration requirements of the Securities Act of 1933, as
amended, ("Securities Act"). The common stock has not been
registered under the Securities Act or any state securities laws,
and the common stock may not be offered or sold absent registration
or an applicable exemption from the registration requirements of
the Securities Act and applicable state securities laws. This press
release does not and will not constitute an offer to sell or the
solicitation of an offer to buy shares in any jurisdiction in which
such offer or solicitation is prohibited. A registration statement
will be filed with the Securities and Exchange Commission within 30
days for the resale of the common stock. Additional information on
the transaction is available in our Report on Form 8-K filed today
which is available through our website at http://www.uqm.com/ or at
http://www.sec.gov/. UQM Technologies, Inc. is a developer and
manufacturer of power dense, high efficiency electric motors,
generators and power electronic controllers for the automotive,
aerospace, medical, military and industrial markets. A major
emphasis of the Company is developing products for the alternative
energy technologies sector including propulsion systems for
electric, hybrid electric, plug-in hybrid electric and fuel cell
electric vehicles, under-the- hood power accessories and other
vehicle auxiliaries and distributed power generation applications.
The Company's headquarters, engineering and product development
center, and motor manufacturing operation are located in Frederick,
Colorado. For more information on the Company, please visit its
worldwide website at http://www.uqm.com/. This Release contains
statements that constitute "forward-looking statements" within the
meaning of Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act. These statements appear in a number of
places in this Release and include statements regarding our plans,
beliefs or current expectations, including those plans, beliefs and
expectations of our officers and directors with respect to, among
other things the development of markets for our products and the
adequacy of our cash balances and liquidity to meet future
operating needs. Important Risk Factors that could cause actual
results to differ from those contained in the forward- looking
statements are contained in our Form 10-K filed May 17, 2007, which
is available through our website at http://www.uqm.com/ or at
http://www.sec.gov/ DATASOURCE: UQM Technologies, Inc. CONTACT:
John Baldiserra of BPC Financial Marketing, 1-800-368-1217, for UQM
Technologies, Inc.; or Donald A. French of UQM Technologies, Inc.,
+1-303-278-2002 Web site: http://www.uqm.com/ http://www.sec.gov/
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