IRVINE, Calif., March 15, 2012 /PRNewswire/ -- Quantum Fuel
Systems Technologies Worldwide, Inc. (NASDAQ: QTWW) (the
"Company") today announced that it has commenced a registered
public offering of units comprised of shares of its common stock
and warrants to purchase shares of common stock and additional
units so comprised pursuant to its existing shelf registration
statement. The Company also intends to grant the underwriters of
the offering an option to purchase additional units and the
components of such units to cover over-allotments, if any,
exercisable prior to closing for all such securities and with
respect to the common stock up to an additional 30 days from the
closing of the offering. The offering is expected to close on or
about March 21, 2012 (subject to the
ability of the Company and the Underwriters to close a portion of
the offering on March 20, 2012), and
further subject to the satisfaction of customary closing
conditions, including the receipt of all necessary regulatory and
stock exchange approvals. Roth Capital Partners, LLC is acting as
sole book-running manager for the Offering, and Merriman Capital,
Inc. is acting as co-manager for the Offering.
The securities described above are being offered by the Company
pursuant to a shelf registration statement on Form S-3
(Registration No. 333-176772), including a base prospectus dated
September 29, 2011, previously filed
with and declared effective by the Securities and Exchange
Commission (the "SEC"). A preliminary prospectus
supplement related to the offering has been filed with the SEC and
is available on the SEC's website located at http://www.sec.gov.
Copies of the preliminary prospectus supplement and the
accompanying base prospectus relating to this Offering, may be
obtained from Roth Capital Partners, LLC at 888 San Clemente Drive,
Newport Beach, CA 92660, or by
telephone at (949) 720-7194, or by e-mail at rothecm@roth.com.
Investors are advised to read the base prospectus, prospectus
supplement, registration statement, and other documents that the
Company has filed with the SEC for more complete information about
the Company and this offering. Investors may obtain these documents
for free by visiting the SEC's website at http://www.sec.gov.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities 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.
Forward-Looking Statements
All statements included in this press release, other than
statements of historical fact, are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended. Forward-looking statements can generally be identified by
words such as "may," "could," "will," "should," "assume," "expect,"
"anticipate," "plan," "intend," "believe," "predict," "estimate,"
"forecast," "outlook," "potential," or "continue," or the negative
of these terms, and other comparable terminology, and include
statements regarding the anticipated use of proceeds from the
offering. Although we believe the expectations and intentions
reflected in our forward-looking statements are reasonable, we
cannot assure you that these expectations and intentions will prove
to be correct.
Various risks and other factors including those risks and
uncertainties identified in the "Risk Factors" section of the
preliminary prospectus supplement we will file with the SEC could
cause actual results, and actual events that occur, to differ
materially from those contemplated by the forward-looking
statements.
Many of the risk factors are beyond our ability to control or
predict. You should not unduly rely on any of our forward-looking
statements. These statements are made only as of this press
release. Except as required by law, we are not obligated to
publicly release any revisions to these forward-looking statements
to reflect future events or developments. All subsequent written
and oral forward-looking statements attributable to us and persons
acting on our behalf are qualified in their entirety by the
cautionary statements contained herein or in our public
filings.
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.
Brion D. Tanous
Principal, CleanTech IR, Inc.
Email: btanous@cleantech-ir.com
(310) 541-6824
Dale Rasmussen
+1-206-315-8242
Email: drasmussen@qtww.com
©2012 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
17872 Cartwright Road, Irvine, CA
92614
Phone 949-399-4500 Fax 949-399-4600
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.