FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
March 20, 2000
Date of Report (Date of earliest event reported)
Unique Mobility, Inc.
(Exact name of registrant as specified in its charter)
1-10869
(Commission file number)
Colorado 84-0579156
(State or other jurisdiction (IRS Employer
of incorporation) Identification No.)
425 Corporate Circle, Golden, Colorado 80401
(Address of principal executive offices)
(303) 278-2002
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS
On March 20, 2000, Unique Mobility, Inc. ("Unique") released the press release
attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
c. Exhibits
Exhibit No. Description
99.1 Press Release
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 hereunto duly authorized.
Unique Mobility, Inc., Registrant
March 20, 2000
/s/ Donald A. French
Donald A. French, Treasurer
(Principal Financial and Accounting
Officer)
Unique Mobility Warrant Holders Acquire $3.5 Million Of Common Stock
GOLDEN, Colo., March 20 /PRNewswire/ -- Unique Mobility, Inc. (Amex: UQM - news)
announced today that the holders of warrants to acquire shares of the Company's
common stock at an exercise price of $8 per share have acquired 436,212 shares
of common stock resulting in cash proceeds to the Company of $3,489,696. The
warrants were issued as part of a unit offering in 1998 to finance the Company's
acquisition of Franklin Manufacturing Company and expired at various dates in
March, unless extended. Warrants to acquire 926,587 shares of common stock,
including warrants issued to the placement agents were issued in the offering.
In the fall of 1999, the Company offered the warrant holders an opportunity to
extend the term of the warrants for an additional eighteen months at any time
through their original expiration date. Extensions were granted at a cost equal
to the fair value of the option extension on the date the election to extend was
made. Accordingly, warrant holders having the right to acquire 299,375 shares of
common stock elected to extend their warrants for eighteen months resulting in
additional cash proceeds to the Company of $78,151. Warrants to purchase 12,000
shares of common stock expire in April, 2000 and warrants to purchase 179,000
shares expired unexercised.
Donald A. French, Unique's Treasurer and Chief Financial Officer said, "These
warrant holders were instrumental in providing the financing for our acquisition
of Franklin and have been some of our largest institutional holders. We
appreciate their continued support of our Company. Cash proceeds from the stock
purchases will be applied to general corporate purposes, including debt
reduction and acquisitions."
Unique Mobility, Inc. is a leading developer and manufacturer of power dense,
high efficiency motors, gear assemblies and electronic assemblies for the
automotive, aerospace, telecommunications, medical and industrial markets. A
major emphasis of the Company is developing products for the alternative energy
technologies sector including the electric, hybrid-electric and fuel cell
electric vehicle and distributed power markets. The Company's headquarters and
engineering and product development center are located in Golden, Colorado.
Manufacturing facilities are located in Frederick, Colorado (electric motors and
gear assemblies) and St. Charles Missouri (electronic assemblies and wire
harnesses). For more information on the Company, please visit its worldwide
website at http://www.uqm.com.
This press release contains forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual future events
or results. Readers are referred to the Risk Factors section of the Registration
Statement on Form S-3 (File No. 333-78525) filed by the Company with the SEC,
which identifies important risk factors that could cause actual results to
differ from those contained in the forward-looking statements, including the
Company's ability to become profitable, its ability to obtain additional
financing, the Company's reliance on major customers and suppliers and the
possibility that product liability insurance may become unavailable. These
forward-looking statements represent the Company's judgment as of the date of
the press release. The Company disclaims, however, any intent or obligation to
update these forward-looking statements.
