Active Power Announces $3.0 Million Private Placement
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AUSTIN, Texas--(Business Wire)--
Active Power, Inc. (NASDAQ: ACPW) today announced that it entered into an
agreement for a $3.0 million private placement pursuant to which it sold 6.0
million shares of common stock at $0.50 per share. The financing closed on May
29, 2009.
Active Power intends to use the net proceeds from this financing transaction for
working capital and general corporate purposes.
The securities sold in the financing have not been registered under the
Securities Act of 1933. Accordingly, these securities may not be offered or sold
in the United States, except pursuant to the effectiveness of a registration
statement or an applicable exemption from the registration requirements of the
Securities Act. Active Power has agreed to file a registration statement
covering resale of these securities by the investors.
This press 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
jurisdiction in which such offer, solicitation or sale would be unlawful.
About Active Power
Active Power (NASDAQ: ACPW) provides efficient, reliable and green critical
power solutions and uninterruptible power supply (UPS) systems to enable
business continuity in the event of power disturbances. Founded in 1992, Active
Power`s flywheel-based UPS systems protect critical operations in data centers,
healthcare facilities, manufacturing plants, broadcast stations and governmental
agencies in more than 40 countries. With expert power system engineers and
worldwide services and support, Active Power ensures organizations have the
power to perform. For more information, please visit http://www.activepower.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and
uncertainties, including, without limitation, statements regarding the use of
proceeds from the investment and registration of the future resale of the
securities issued in the transaction. Any forward-looking statements and all
other statements that may be made in this press release that are not historical
facts are subject to a number of risks and uncertainties, and actual results may
differ materially. Specific risks include the possibility that Active Power will
decide to use the proceeds from the investment for purposes other than those
described above. Additional factors that may affect the future results of the
company are set forth in the company`s quarterly and annual reports on Form 10-Q
and Form 10-K, respectively, and other filings with the Securities and Exchange
Commission ("SEC"), which are available at the SEC`s website at
http://www.sec.gov, and at the company`s website at http://www.activepower.com.
These risk factors are updated from time to time through the filing of periodic
reports with the SEC.
Stockholders of or potential investors in Active Power are cautioned not to
place undue reliance on our forward-looking statements, which speak only as of
the date such statements are made. Active Power undertakes no obligation to
update any of the forward-looking statements herein after the date of this press
release.
Active Power, CleanSource and CoolAir are registered trademarks of Active Power,
Inc. The Active Power logo and PowerHouse are trademarks of Active Power, Inc.
All other trademarks are the properties of their respective companies.
Active Power
Investor Contact:
John Penver, Chief Financial Officer, 512-744-9234
jpenver@activepower.com
or
Media Contact:
Lee Higgins, Public Relations Manager, 512-744-9488
lhiggins@activepower.com
Copyright Business Wire 2009
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