Announcement Of $5.3 Million Registered Direct Offering By UQM Technologies Inc (NYSEMKT:UQM)


Dallas, Texas 02/04/2014 (FINANCIALSTRENDS) – In a recent and latest announcement made by the UQM Technologies Inc (NYSEMKT:UQM) they have entered into some definitive agreements with some institutional investors so that they can purchase an approximately $5.3 million worth of its shares. The deal is expected to mature at a price of $1.85 per share and for each share received by them the investors are also going to get a warrant to purchase 0.5 per share. This open offer is expected to close on February 5th 2014 and the company will also wait for all customary satisfaction closing additions before finalizing everything.

The company has made H.C. Wainwright & Co. LLC as their exclusive placement agent for this deal. Many industry trade analysts have maintained a hold rating on this stock and are of view that this stock will give about 9 to 12% returns in a short period of time.

Something about the company

If we talk about UQM Technologies Inc (NYSEMKT:UQM) in detail then we can say that UQM Technologies is a manufacturer and developer of high-efficiency electric motors, generators, power-dense and various types of power electronic controllers for automatic sector that includes commercial as well as defense vehicles such as trucks, buses and military vehicles.

The company is also keenly focused on the development of unique propulsion systems for hybrid, electric, plug-in hybrid fuel and electric cells vehicles. UQM Technologies has got its office in Longmont, Colorado in the United States of America. As the American economy situation is improving it seems that the automobile sector is also expected to post good numbers in 2014. This has also lead to the speculation that UQM technologies are also going to post some good number in the current year. The CEO Mr. Eric Ridenour seems to be quite positive about company’s growth in the coming times.