SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report - June 25, 1997
(Date of earliest event reported)
UNIQUE MOBILITY, INC.
(Exact name of registrant as specified in charter)
COLORADO
(State or other jurisdiction of Incorporation)
1-10869 84-0579156
(Commission File Number) (I.R.S. Employer Identification No.)
425 Corporate Circle, Golden, Colorado 80401
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 278-2002
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UNIQUE MOBILITY, INC.
FORM 8-K
ITEM OF INFORMATION
Item 5. Other Events
The Company issued the following press release on June 26, 1997 announcing
a strategic alliance with EV Global Motors Company:
FOR IMMEDIATE RELEASE Contact: John S. Gould
Director-Investor Relations
Release 97-10 Unique Mobility, Inc.
303-278-2002
=====================================
LEE IACOCCA'S EV GLOBAL MOTORS BUYS
EQUITY STAKE IN UNIQUE MOBILITY, INC.
Partners will develop
Light Electric Transportation Systems
======================================
Denver (June 26) -- Unique Mobility, Inc. (AMEX:UQM) announced today that
former Chrysler Chairman Lee Iacocca's new company, EV Global Motors (EVG), has
formed a strategic partnership with Unique to develop electric drive systems for
bikes, scooters and other light vehicles.
EVG purchased 1,151,925 shares of Unique stock in a private transaction
from Alcan Aluminium Limited (NYSE:AL) and purchased warrants from other sources
for an additional 350,000 shares. Separately, Unique has agreed to acquire
400,000 shares of EVG in exchange for an additional 200,000 newly-issued shares
of Unique. Upon completion of the latter transaction, EVG's beneficial
ownership will represent approximately 12.2% of Unique, making EVG the company's
largest shareholder.
Iacocca will join Unique's board of directors and Ray Geddes, Unique's
Chairman and CEO, will sit on EVG's board. For twenty years, Iacocca and Geddes
worked together at Ford Motor Company on several sports car projects, including
the Shelby Cobra, the Shelby Mustangs, the Ford GT LeMans car and the Ford
Pantera.
Iacocca formed EV Global in March to develop and market light electric
transportation systems (LETS) such as bicycles and scooters for markets in North
America, Europe and Asia. EVG has contracted with Unique for an electric drive
system for bicycles and has signed a memorandum of understanding with Unique and
Unique's Taiwan joint venture partners to market electric scooters throughout
the Western Hemisphere.
Unique Mobility, based in Golden, Colorado, is a world leader in compact,
high-performance electric motors and controllers for electric and hybrid
electric vehicle propulsion systems ("Hybrid" electric vehicles run on a
combination of electricity and conventional fuel such as gasoline or diesel).
Its customers include many of the world's major automotive OEMs as well as the
U.S. Departments of Defense, Energy and Transportation.
Of the new partnership, Iacocca said: "We're excited about teaming up with
Unique Mobility. They've got some of the best technology in the world and are
a key element in our global strategy. As a product development and
manufacturing partner, Unique will become an important supplier of electric
drive systems for our new products."
Added Unique's Geddes, "Lee Iacocca's expertise in marketing and management
will jump-start our growth as a power system supplier and will provide a welcome
boost for the entire electric vehicle industry. Like Lee, I believe the
worldwide potential for light electric transportation is enormous."
This release contains forward-looking statements that involve risks and
uncertainties. The Company's actual results could differ materially from those
discussed in this release. Factors that could cause or contribute to such
differences include, but are not limited to, those discussed in the Company's
Registration Statement on Form S-3 (file no. 23843). These forward-looking
statements represent the Company's judgment as of the date of this release. The
Company disclaims, however, any intent or obligation to update these
forward-looking statements.
# # # END # # #
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Unique Mobility, Inc.
(Registrant)
By: /s/ Donald A. French
Donald A. French
Treasurer and Controller
(Principal Financial and
Accounting Officer)
Date: June 30, 1997
