Quantum Closes Private Stock Sale

July 6, 2006

Quantum Technologies Closes $12.5 Million Stock Sale in Private Placement

IRVINE, Calif. (AP) — Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) said Thursday it closed a $12.5 million private placement of its stock, selling 4.4 million shares at $2.84 per share.The sale price represented a 10 percent discount to the stock’s closing price of $3.15 on June 29. The investors also received warrants to buy 880,000 shares at $3.94 per share. 

Quantum makes fuel storage and delivery devices for alternative-fuel vehicles such as hybrids.

The company’s shares slid 31 cents, or 8.7 percent, to $3.24 in morning trading on the Nasdaq. In the past 52 weeks, the stock has traded between $2.25 and $5.22.

Source: Yahoo

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