To: D. Chapman who wrote (4697 ) 8/11/2000 10:32:51 AM From: Nancy Read Replies (1) | Respond to of 5853 Mechanical Technology, Inc. (MKTY) Announces Beacon Power Files Registration Statement for Initial Public Offering Thursday August 10, 5:29 pm Eastern Time Press Release SOURCE: Mechanical Technology, Inc. Mechanical Technology, Inc. Announces Beacon Power Files Registration Statement for Initial Public Offering ALBANY, N.Y., Aug. 10 /PRNewswire/ -- Mechanical Technology, Inc. (Nasdaq: MKTY - news), today announced that Beacon Power Corporation has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock, which will represent new financing for Beacon. MTI owns a minority interest in Beacon Power Corporation. Beacon Power Corporation designs, manufactures, and markets advanced flywheel technology products that provide reliable electric power required by the information economy. The lead underwriter for the offering will be Salomon Smith Barney, Inc., and the co-managers will be Banc of America Securities, LLC, and CIBC World Markets Corporation. When a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 becomes available, members of the public may obtain copies from Salomon Smith Barney, Inc., 140 58th Street, Brooklyn Army Terminal, 8th Floor, Brooklyn, New York 11220. A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities in any state in the United States in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities law of any such state. Statements made in this document that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. It is important to note that the Company's actual circumstances could differ materially from those implied by such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including but not limited to the 10-K and 10-Q. Copies of those filings are available from the Company and the SEC. SOURCE: Mechanical Technology, Inc. ------------------------------------------------- Source of webpage:biz.yahoo.com