UNIQUE MOBILITY ANNOUNCES EXERCISE OF UNDERWRITERS' OVER-ALLOTMENT OPTION
UNIQUE MOBILITY ANNOUNCES EXERCISE OF UNDERWRITERS'
DENVER, Nov. 15 /PRNewswire/ -- Unique Mobility Inc. (OTC) announced today the underwriters' of the company's common stock offering, led by J. Edmund & Co. (Milton, Mass.) and Venture Trading Inc. (Denver), exercised their option to acquire an additional 210,000 shares on Nov. 12, 1991.
The sale of the additional shares increased the amount of the offering to 1.61 million shares or $3.22 million.
Net proceeds from the sale of the additional shares will be used for working capital and other general corporate purposes.
Unique is an Englewood, Colo. based engineering concern active in the design and development of high power density electric motors and related electronic controls for automotive, aerospace and general industrial applications.
/CONTACT: Ray A. Geddes or Donald A. French of Unique Mobility, 303-761-2137/ CO: Unique Mobility Inc. ST: Colorado IN: AUT ARO SU: OFR BB -- DV002 -- 1379 11/15/91 09:03 EST