Quantum Fuel Systems Technologies Worldwide Inc announces pricing of 2,050,000 share follow-on offering


Friday, 14 Feb 2014 08:00am EST 

Quantum Fuel Systems Technologies Worldwide Inc:Prices a registered firm commitment underwritten public offering of 2,050,000 shares of its common stock at a price to public of $7.05 per share.Says the company has granted the underwriter the option to purchase up to an additional 307,500 shares of its common stock to cover over-allotments, if any.Says offering is expected to close on or about Feb. 20.Says total gross proceeds of the offering are expected to be about $14.5 mln.Says after deducting the underwriter's discount and other estimated offering expenses payable by Quantum, the net proceeds are expected to be about $13.3 mln.Says these amounts assume no exercise of the underwriter's over-allotment option.Says the company intends to use the net proceeds of the offering for general corporate and working capital purposes.Says Craig-Hallum Capital Group LLC is acting as sole managing underwriter of the offering.Says Ascendiant Capital Markets, LLC is acting as financial advisor to the Company in connection with the offering. 

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