Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

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

BESSTECH Announces $250K Investment from Eastern New York Angels : Funding will accelerate commercialization of BESSTECH’s innovative lithium-ion battery electrode technology and enable hiring of key personnel May 13th, 2015

Harris & Harris Group Portfolio Company OpGen Raises $17.1 Million in Initial Public Offering May 6th, 2015

Harris & Harris Group Sponsors NYC American Heart Association's Health Sciences Innovation Investment Forum: Co-founder of Harris & Harris Group Portfolio Company TARA Biosystems to Speak About the Value of Tissue Engineering Technology April 21st, 2015

Long Island Capital Alliance Announces Participants for Brookhaven National Laboratory Technology Transfer Capital Forum on May 8: Keynote Speaker Dr. Doon Gibbs, Director of Brookhaven National Laboratory April 16th, 2015

Investments/IPO's/Splits

Evident Thermoelectrics Acquires GMZ Energy: Investment Accelerates Launch Of Evident's Thermoelectric Modules For Waste Heat May 20th, 2015

Nanometrics Announces Live Webcast of Upcoming Investor and Analyst Day May 20th, 2015

PEN Inc. Announces First Quarter Financial Results: Investor Webcast and Business Update Set for May 21, 1 pm EDT May 13th, 2015

Harris & Harris Group Portfolio Company OpGen Raises $17.1 Million in Initial Public Offering May 6th, 2015

Announcements

Basel physicists develop efficient method of signal transmission from nanocomponents May 23rd, 2015

This Slinky lookalike 'hyperlens' helps us see tiny objects: The photonics advancement could improve early cancer detection, nanoelectronics manufacturing and scientists' ability to observe single molecules May 23rd, 2015

Visualizing How Radiation Bombardment Boosts Superconductivity: Atomic-level flyovers show how impact sites of high-energy ions pin potentially disruptive vortices to keep high-current superconductivity flowing May 23rd, 2015

New Antibacterial Wound Dressing in Iran Can Display Replacement Time May 22nd, 2015

Automotive/Transportation

Wearables may get boost from boron-infused graphene: Rice U. researchers flex muscle of laser-written microsupercapacitors May 18th, 2015

ORNL demonstrates first large-scale graphene fabrication May 14th, 2015

Penn and UC Merced researchers match physical and virtual atomic friction experiments May 8th, 2015

Silicon Storage Technology and GLOBALFOUNDRIES Announce Qualification of Automotive Grade 55nm Embedded Flash Memory Technology May 5th, 2015

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

Turn that defect upside down: Twin boundaries in lithium-ion batteries May 21st, 2015

Evident Thermoelectrics Acquires GMZ Energy: Investment Accelerates Launch Of Evident's Thermoelectric Modules For Waste Heat May 20th, 2015

Sandia researchers first to measure thermoelectric behavior by 'Tinkertoy' materials May 20th, 2015

Defects can 'Hulk-up' materials: Berkeley lab study shows properly managed damage can boost material thermoelectric performances May 20th, 2015

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