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Published on 1/19/2007 in the Prospect News PIPE Daily.

New Issue: Capstone Turbine plans $45.6 million direct placement of units

By Sheri Kasprzak

New York, Jan. 19 - Capstone Turbine Corp. intends to raise $45.6 million in a registered direct placement of its stock.

The deal includes up to 40 million units of one share and one half-share warrant at $1.14 each.

The unit price is a 6.5% premium to the company's $1.07 closing stock price from Thursday.

The whole warrants are exercisable at $1.30 each for five years.

The shares will be sold under the company's shelf registration.

The offering is scheduled to close Jan. 24.

A.G. Edwards & Sons, Inc. is the placement agent.

Proceeds will be used for working capital.

Based in Chatsworth, Calif., Capstone develops low-emissions micro-turbine systems used for energy production.

Issuer:Capstone Turbine Corp.
Issue:Units of one share and one half-share warrant
Amount:$45.6 million
Units:40 million
Price:$1.14
Warrants:One half-share warrant per unit
Warrant expiration:Five years
Warrant strike price:$1.30
Placement agent:A.G. Edwards & Sons, Inc.
Announcement date:Jan. 19
Settlement date:Jan. 24
Stock symbol:Nasdaq: CPST
Stock price:$1.07 at close Jan. 18

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