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 - February 28, 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 9. Sales of Equity Securities Pursuant to Regulation S.
The Company issued the following press release on March 13, 1997 announcing
the sale of equity securities pursuant to Regulation S and Regulation D:
Golden, CO -- March 13, 1997 -- Unique Mobility, Inc. (AMEX:UQM) today announced
that it has completed the placement of 1,289,288 shares of its common stock
with various institutional investors and an individual investor in Europe and
Canada in offerings under Regulation S and Regulation D of the Securities and
Exchange Act. The common stock was sold at $3.50 per share which was the
average closing price of the common stock on the American Stock Exchange for
the ten trading days prior to the pricing date of February 24, 1997. Millenium
Financial Group of Milan, Italy served as lead placement agent for the
offering. Net cash proceeds to the Company after deducting placement agent
fees of $270,750 was $4,241,758.
The Company also granted the placement agent warrants to acquire 225,625
shares of common stock at $3.50 per share and warrants to acquire 50,000
shares of common stock at $4.20 per share which are exercisable over a three
year period from the closing date of the placement.
According to Ray A. Geddes, Chairman and CEO, "The proceeds from this placement
have increased the Company's cash balances to over $5.3 million. We now
have additional financial resources to further leverage our technology base and
name recognition to serve a number of high potential niche markets in the near
term and automotive mass markets in the longer term."
Unique Mobility, Inc. is one of the world's leading developers of energy
efficient electric and hybrid electric vehicle systems. It is a Golden,
Colorado, based engineering concern and manufacturer of high efficiency
permanent magnet motors and controls for automotive, aerospace and industrial
applications.
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 dated October 10, 1996. 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.
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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: March 13, 1997
