UQM Technologies announces $5.3M registered direct offering UQM Technologies announced that it has entered into definitive agreements with institutional investors to purchase an aggregate of approximately $5.3M of its common stock in a registered direct offering at a price of $1.85 per share. In addition, for each share of common stock purchased, investors will receive a warrant to purchase 0.5 of a share of UQM common stock with an exercise price of $2.1275 per share, which warrants shall be exercisable six months from the date of issuance and expire four years and six months from the date of issuance. The closing of the offering is expected to take place on or about February 5 subject to the satisfaction of customary closing conditions.
UQM Technologies acquires fuel cell compressor business from Roush UQM Technologies announced that it will expand directly into the fuel cell business by taking over the fuel cell compressor module business from Roush Performance Products. These compressor modules are an integral component of hydrogen powered fuel cell vehicles. UQM will now manufacture the complete compressor modules. UQM had previously built components for these modules. Roush made a strategic decision to exit this business. UQM will commence manufacturing the fuel cell compressors no later than May 15. “Our revenue and gross profits will be improved as a result of this addition to our business,” said UQM CEO Eric Ridenour