Technology  December 27, 2016

UQM terminates stock deal with Hybrid Kinetic

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LONGMONT — UQM Technologies Inc. (NYSE: UQM) has terminated a stock purchase agreement with Hong Kong’s Hybrid Kinetic Group Ltd. that would have sold a controlling stake in the Weld County company for $48 million in cash.

The deal was terminated after shareholders failed to approve key provisions of the transaction at a shareholders meeting Dec. 21. BizWest first reported Dec. 22 that the deal was in jeopardy, after shareholders failed to issue enough new stock for Hybrid Kinetic to purchase, and another that would have made it easier for Hybrid Kinetic to amend the company’s articles of incorporation in the future.

“Without the…

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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