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Meldungen 19.07.2007

19.7.2007: Meldung: SatCon Obtains $4,700,000 Financing

SatCon Technology Corporation, a developer of power management and system architecture solutions for the alternative energy and distributed power markets today announced that it has agreed to amend its existing Warrant B"s issued in connection with its $12,000,000 secured convertible note financing to reduce the exercise price from $1.68 to $1.31 per share and that the note holders have all exercised such Warrant B"s. The Company expects to obtain approximately $4,700,000 in new funds as a result of such exercise. The Company will use the proceeds from the financing for general corporate purposes, including working capital for its business.

 

About SatCon Technology Corporation

 

SatCon Technology Corporation is a developer and manufacturer of electronics and generators/motors for the Renewable Energy, Hybrid-Electric Vehicle, Grid Support, High Reliability Electronics and Advanced Power Technology markets. For further information, please visit the SatCon website at www.satcon.com. SATC-E

 

Statements made in this document that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the Company"s expectation. Additional information concerning risk factors is contained from time to time in the Company"s SEC filings. The Company expressly disclaims any obligation to update the information contained in this release.

 

Contact:

SatCon Technology Corporation®

Dan Gladkowski, 617-897-2411

VP, Administration

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