Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Altair Nanotechnologies Announces Completion of $40 Million Private Placement

Abstract:
Altair Nanotechnologies Inc. (Nasdaq: ALTI), a provider of advanced nanomaterial-based products and technology used in energy for transportation and stationary power, industrial and life science applications, today announced the completion of a $40 million private placement of its common stock to Al Yousuf LLC.

Altair Nanotechnologies Announces Completion of $40 Million Private Placement

RENO, NV | Posted on November 30th, 2007

Under the purchase agreement, Altairnano has agreed to issue an aggregate of 11,428,572 shares of common stock to Al Yousuf LLC at a purchase price of $3.50 per share. The shares will be contractually restricted from resale for at least two years, with one-third of the shares being released from this restriction on the second, third and fourth anniversaries respectively.

"The funding is intended to support manufacturing growth, working capital and general corporate purposes as we expand the production of our advanced power and energy storage products," said Altairnano President and Chief Executive Officer Alan J. Gotcher, Ph.D. "The strategic investment partnership with Al Yousuf allows us to continue to have an impact on the dynamics of the transportation and stationary power markets."

"We see the tremendous global growth opportunity for Altairnano's innovative battery technology in both the transportation and stationary power markets," said Iqbal Al Yousuf, President of Al Yousuf LLC. "Given our transportation expertise, we believe these markets are ready for Altairnano's clean, powerful and scaleable energy storage systems."

J.P. Morgan Securities Inc. acted as the exclusive agent in the private placement. The share purchase is set to close in stages, with a closing for $10 million in shares having occurred on November 30, 2007 and a closing for the remaining shares scheduled to occur on December 10, 2007. Altairnano agreed to register the resale of the shares prior to the expiration of the two-year lockup period and granted the investor the right to demand a subsequent underwritten re-sale registration.

ABOUT THE AL YOUSUF LLC

Al Yousuf LLC was founded in Dubai in 1953 and since that time has steadily grown to become one of the leading commercial groups in the United Arab Emirates. Al Yousuf operates in a wide range of industries including automobiles, marine, manufacturing, real estate, information and communication technology, electronic goods and chemicals. Al Yousuf now has a network of subsidiaries and associate companies that in aggregate have more than 3,000 employees.

With partnership at the core of all of its activities, Al Yousuf has developed strong value-added relationships with major international companies such as Chevrolet, Yamaha, Daihatsu, Daewoo and Suzuki in the automotive and marine sectors, LG in electronics and ATI/Sapphire, CNet, Concerto-Aspect, Epson NEC, SimpleTech and ViewSonic in the information and communication technology sector.

Al Yousuf is constantly seeking new opportunities to partner with regional and world brands that are looking to expand to new markets. Increasingly, these companies are recognizing the advantages of partnering with Al Yousuf - a global organization with a track record of strong, continuous growth, solid support from its business partners, a dedicated and loyal workforce and the Royal Family's vision as its guide.

####

About Altair Nanotechnologies Inc.
Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. A seasoned management team with substantial experience in commercializing innovative, disruptive product technologies, complements Altairnano's leading edge scientists. The company has developed nanomaterials for the alternative energy, performance materials and life sciences markets based on its proprietary materials and manufacturing process. This process also provides the foundation for its innovative AHP pigment process. Altairnano is a leading manufacturer of advanced battery pack systems, which are used in stationary power applications, and electric and hybrid-electric vehicles.

Forward-Looking Statements

This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the Altairnano’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the risk that subsequent closings may not occur for any of various reasons, including a failure of either party to satisfy conditions to closing, a funding default or other possible events. In addition, other risks are identified in the company's most recent Annual Report on Form 10-K filed with the SEC. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.

For more information, please click here

Contacts:
Institutional Investors:
Fleishman-Hillard
Tom Laughran, Senior Vice President, 312-751-3519

or
Media Relations:
Fleishman-Hillard
Terry Banks, Senior Vice President, 202-828-9710

or
Retail Investors:
McCloud Communications, LLC
Marty Tullio, Managing Member, 949-553-9748

or
Company Information:
Altair Nanotechnologies Inc.
Ed Dickinson, Chief Financial Officer, 775-858-3750

Copyright © Business Wire 2007

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

180 Degree Capital Corp. Appoints Investment Banking Veteran Parker Weil to Its Board of Directors August 2nd, 2017

Forge Nano 2017: 1st Quarter Media Update April 20th, 2017

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Caught on camera -- chemical reactions 'filmed' at the single-molecule level March 22nd, 2017

Investments/IPO's/Splits

Nanometrics Announces Upcoming Investor Events August 3rd, 2017

Nanometrics to Participate in the 9th Annual CEO Investor Summit 2017: Accredited investor and publishing research analyst event held concurrently with SEMICON West and Intersolar 2017 in San Francisco June 27th, 2017

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Harris & Harris Group Issues Its Financial Statements as of December 31, 2016, Posts Its Annual Shareholder Letter, And Will Host a Conference Call for Shareholders on Friday, March 17, 2017 March 15th, 2017

Announcements

Researchers printed graphene-like materials with inkjet August 17th, 2017

Candy cane supercapacitor could enable fast charging of mobile phones August 17th, 2017

Freeze-dried foam soaks up carbon dioxide: Rice University scientists lead effort to make novel 3-D material August 16th, 2017

Gold shines through properties of nano biosensors: Researchers discover that fluorescence in ligand-protected gold nanoclusters is an intrinsic property of the gold particles themselves August 16th, 2017

Automotive/Transportation

2-faced 2-D material is a first at Rice: Rice University materials scientists create flat sandwich of sulfur, molybdenum and selenium August 14th, 2017

Engineers pioneer platinum shell formation process – and achieve first-ever observation August 11th, 2017

GLOBALFOUNDRIES, Silicon Mobility Deliver the Industry’s First Automotive FPCU to Boost Performance for Hybrid and Electric Vehicles: Silicon Mobility and GF’s 55nm LPx -enabled platform, with SST’s highly-reliable SuperFlash® memory technology, boosts automotive performance, ene August 3rd, 2017

Rice U. scientists map ways forward for lithium-ion batteries for extreme environments: Paper details developments toward high-temperature batteries July 27th, 2017

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Candy cane supercapacitor could enable fast charging of mobile phones August 17th, 2017

Rice U. scientists map ways forward for lithium-ion batteries for extreme environments: Paper details developments toward high-temperature batteries July 27th, 2017

Regulation of two-dimensional nanomaterials: New driving force for lithium-ion batteries July 26th, 2017

Ultrathin device harvests electricity from human motion July 23rd, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project