Altair Nanotechnologies Inc. announced $40 million private placement

2 December 2007

Altair Nanotechnologies Inc. is a major provider of nanotechnology based products and technology. The nanotechnology based products and technology are mainly used in industrial aplications, transportation of energy, life science applications and stationary power.

Recently Altair Nanotechnology announces the completion of a purchase agreement of $40 million with Al Youuf LLC. As per the terms and conditions of agreement, Altairnano will issue 11,428,572 shares to Al Yousuf LLC at a price of $3.5 per share. As per the contractual restrictions , no shares can be sold before two years and one third shares each will be released from restrictions at the end of two, three and four years.

According to the President and Chief Executive Officer, Alan J. Gotcher this agreement will enhance the transportation and stationary power markets of Altair Nanotechnology Inc. The contract will further support manufacturing growth, especially advanced power and energy storage products.

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One Response to “Altair Nanotechnologies Inc. announced $40 million private placement”

  1. On December 31st, 2007 at 2:20 pm, Ramesh Says:

    I am studing M.sc-Nanoscience and Technology at Bharthiar University in Tamilnadu,India.

    After finishing this course,how get job?and where i can ger job?

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