Quantum Fuel (QTWW) Issues 1.4M Shares of Common to WB QT LLC
Quantum Fuel Systems Technologies (NASDAQ: QTWW) announced that on October 13, 2009, WB QT, LLC, the holder of Registrant's Third Amended and Restated Promissory Note issued on August 3, 2009, converted $1,000,000 of principal plus $32,767 of interest into shares of Registrant's common stock at a conversion price of $0.71 per share. As a result of such conversion, Registrant issued to WB QT, LLC a total of 1,454,601 shares of common stock.
The common shares issued by Registrant were issued to an accredited investor in a transaction exempt from Registration pursuant to Section 4(2) of the Securities Act of 1933. The transaction did not involve a public offering, was made without general solicitation or advertising, and there were no underwriting commissions or discounts.
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