Active Power Prices Public Offering of Common Stock AUSTIN, TX -- (Marketwired) -- 02/26/14 -- Active Power, Inc. (NASDAQ: ACPW), a manufacturer of uninterruptible power supply (UPS) systems and modular infrastructure solutions, announced the pricing of its underwritten public offering of an aggregate of 3,175,000 newly issued shares of common stock at a price of $3.15 per share (the "Offering"). The Company expects to receive gross proceeds of $10.0 million before deducting underwriting discounts and estimated offering expenses. The underwriter has also been granted a 30-day option to purchase up to 476,250 shares of common stock to cover over-allotments, if any. The net proceeds to the Company from the Offering are expected to be approximately $9.4 million after deduction of underwriting discounts. Subject to customary conditions, the Offering is expected to close on March 3, 2014. The Company expects to use the net proceeds from the Offering for working capital and other general corporate purposes. The shares were offered by Active Power pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), which was declared effective by the SEC on June 26, 2013, and as supplemented by a prospectus supplement dated Feb. 25, 2014, filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended. Roth Capital Partners is serving as the sole manager for the Offering. Copies of the final prospectus supplement and accompanying base prospectus can be obtained at the SEC's website at http://www.sec.gov or Roth Capital Partners, 888 San Clemente Drive, Newport Beach, California 92660, (800) 678-9147, or by writing or calling the Company at 2128 W. Braker Lane, BK 12, Austin, Texas 78758, Attention: Jay Powers, Chief Financial Officer, (512) 836-6464 when available. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in this Offering. There shall not be any sale of these securities in any state or jurisdiction in which such Offering, sale, or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Active Power Founded in 1992, Active Power (NASDAQ: ACPW) designs and manufactures uninterruptible power supply (UPS) systems and modular infrastructure solutions that enable data centers and other mission critical operations to remain 'on' 24 hours a day, seven days a week. The combined benefits of its products' power density, reliability, and total cost of ownership are unmatched in the market and enable the world's leading companies to achieve their most forward thinking data center designs. The company's products and solutions are built with pride in Austin, Texas, at a state-of-the-art, ISO 9001:2008 registered manufacturing and test facility. Global customers are served via Austin and three regional operations centers located in the United Kingdom, Germany, and China, that support the deployment of systems in more than 50 countries. For more information, visit www.activepower.com. Cautionary Note Regarding Forward-Looking Statements This release contains forward-looking statements about the Offering and the use of the Offering proceeds that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include stock market conditions and our ability to satisfy the conditions to closing in the underwriting agreement and complete the Offering. Please refer to Active Power filings with the SEC for more information on the risk factors that could cause our actual results to differ. Active Power and CleanSource are registered trademarks of Active Power, Inc. The Active Power logo and PowerHouse are trademarks of Active Power, Inc. All other trademarks are the properties of their respective companies. SOURCE: Active Power, Inc. Active Power Investor Contact: Ron Both Liolios Group (949) 574-3860 firstname.lastname@example.org Active Power Media Contact: Lee Higgins Senior Public Relations Manager (512) 656-9435 email@example.com
Active Power Prices Public Offering of Common Stock
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