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Active Power Announces $9.9 Million Common Stock Offering

19-02-10 04:13 | Age: 202 days

AUSTIN, Texas (Feb. 19, 2010) – Active Power, Inc. (NASDAQ: ACPW), announced today that it has priced an offering of 13,229,500 shares of its common stock at $0.75 per share. The gross proceeds to Active Power, before expenses, from the sale of shares are expected to be $9,922,125.  The offering is expected to close on February 24, 2010, subject to satisfaction of customary closing conditions. All of the shares in the offering are being sold by Active Power, Inc. Thomas Weisel Partners LLC is acting as sole book-running manager of the offering.

A shelf registration statement relating to the shares was filed with the Securities and Exchange Commission and is effective. Information about the offering is available in the final prospectus supplement to be filed with the Securities and Exchange Commission. 

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

Copies of the final prospectus supplement may be obtained by contacting Thomas Weisel Partners LLC, Attention: One Montgomery Street, San Francisco, CA 94104, Attention: Equity Syndicate, (415) 364-2720.