UQM Technologies Announces $6.4M Registered Direct Offering

UQM Technologies Inc. (NYSE MKT: UQM) today announced that it has entered into definitive agreements with institutional investors to purchase in a registered direct offering an aggregate of 8.0 million units for a total purchase price of approximately $6.4 million ($0.80 per unit). Each unit consists of one share of UQM common stock and 0.5 of a warrant. Each warrant gives the warrant holder the right to purchase one share of UQM common stock at a price of $1.31 for a period beginning six months from the date of issuance through the fifth anniversary of the date of issuance. The closing of the offering is expected to take place on or about October 30, 2015, subject to the satisfaction of customary closing conditions. See full press release