EXHIBIT
99.1
FOR IMMEDIATE RELEASE
Capstone Turbine Announces Equity Offering
CHATSWORTH,
Calif.(BUSINESS WIRE) Jan 19, 2007 Capstone Turbine Corporation, (www.microturbine.com; Nasdaq: CPST), today announced an offering pursuant to its
shelf registration of common stock and warrants at an offering price
of $1.14 per unit in which
it will issue 40,000,000 shares of common stock and warrants to
purchase 20,000,000 shares of
common stock. The five-year warrants will be immediately exercisable at an exercise price of
$1.30 per share. The financing is expected to close on or about January 24, 2007, subject to the
satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the transaction for general corporate
purposes, which may include, but are not limited to, working capital and capital expenditures. The
net proceeds to the Company from the offering are expected to be
approximately $42.5 million.
A.G. Edwards acted as placement agent for the offering and First Albany Capital acted as financial
advisor.
A registration statement relating to these securities was filed with and has been declared
effective by the Securities and Exchange Commission. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any
offer will be made only by means of a prospectus, including a prospectus supplement, forming a part
of the effective registration statement. Copies of the final prospectus supplement together with
the accompanying prospectus can be obtained at the SECs website at http://www.sec.gov or from A.G.
Edwards & Sons, Inc. at One North Jefferson, Saint Louis, Missouri 63116, (314) 955-3000.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com; Nasdaq: CPST) is the worlds leading producer
of low-emission microturbine systems, and was the first to market commercially viable microturbine
energy products. Capstone Turbine has shipped thousands of Capstone MicroTurbine systems to
customers worldwide. These award-winning systems have logged millions of documented runtime
operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agencys
Combined Heat and Power Partnership, which is committed to improving the efficiency of the nations
energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO
9001:2000 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales
and/or service centers in New York, Mexico City, Milan, Nottingham, Shanghai and Tokyo.
Capstone Turbine Corporation and Capstone MicroTurbine are registered trademarks of Capstone
Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains forward-looking statements, as that term is used in the federal
securities laws, with regard to consummation of the financing and the anticipated use of proceeds.
Forward-looking statements may be identified by words such as expects, objective, intend,
targeted, plan and similar phrases. These forward-looking statements are subject to numerous
assumptions, risks and uncertainties. Actual results could vary significantly based on a variety
of factors, including factors described in Capstones recent filings with the Securities and
Exchange Commission. Capstone cautions readers not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. Capstone undertakes no obligation, and
specifically disclaims any obligation, to release any revisions to any forward-looking statements
to reflect events or circumstances after the date of this release or to reflect the occurrence of
unanticipated events.
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Source:
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Capstone Turbine Corporation |
Contact:
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Capstone Turbine Corporation |
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Alice Barsoomian, 818-407-3628 |