Merriman Capital Serves As Co-Manager In $14.6 Million Public Offering On Behalf Of Quantum Fuel Systems Technologies Worldwide
SAN FRANCISCO, March 22, 2012 /PRNewswire/ -- Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR), announced today it acted as co-manager in connection with Quantum Fuel Systems Technologies Worldwide's (NASDAQ: QTWW) $14.6 million public offering, which closed in two phases on March 20 and March 21, 2012.
Quantum used the net proceeds for the repayment of approximately $3.88 million in principal and accrued interest on outstanding debt, and the remainder will be used for working capital and other general corporate purposes.
The total offering consisted of 17,200,000 shares of common stock, plus two series of warrants. Roth Capital Partners, LLC was the sole book-running manager. Further details on the transaction can be found at Quantum's website: http://www.qtww.com/.About Quantum Fuel Systems Technologies Worldwide, Inc. Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's wholly owned subsidiary, Schneider Power Inc., and affiliate Asola Solarpower GmbH complement Quantum's emerging renewable energy presence through the development and ownership of wind and solar farms, and manufacture of high efficiency solar modules. Quantum's portfolio of technologies includes electronic controls, hybrid electric drive systems, natural gas and hydrogen storage and metering systems and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and natural gas vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, natural gas fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
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