Bankruptcy Could be Up Next for Quantum Fuel Systems (QTWW) - FBR
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Quantum Announces Event of Default Under Bridge Bank Credit Facility and Resulting Cross-Default under Senior Secured Convertible Notes
March 15, 2016 9:02 AM EDTLAKE FOREST, Calif., March 15, 2016 (GLOBE NEWSWIRE) -- Quantum Fuel Systems Technologies Worldwide, Inc. (Quantum or the Company) (NASDAQ: QTWW), a global leader in natural gas storage and delivery systems, integration and vehicle system technologies, today announced that an event of default under the Companys credit facility with Bridge Bank, National Association occurred on March 14, 2016, as a result of the Companys failure to make a $2.7 million principal payment when the credit facility matured on March 14, 2016.
The event of default under the Bridge Bank credit facility also constituted an event of default under the senior... More
