UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 21, 2009
BEACON POWER CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware (State or Other Jurisdiction of Incorporation) | 000-31973 (Commission File Number) | 04-3372365 (IRS Employer Identification No.) |
65 Middlesex Road Tyngsboro, Massachusetts 01879 (Address of Principal Executive Offices) (Zip Code) |
(978) 694-9121 (Registrant's telephone number, including area code) |
Not Applicable (Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.02 Termination of a Material Definitive Agreement.
On January 21, 2009 Beacon Power Corporation (the “Company”) entered into a Warrant Transfer and Cancellation Agreement (the “Agreement”) with The Quercus Trust. Under the terms of the Agreement, the Company paid The Quercus Trust one hundred dollars ($100.00) in consideration for cancellation of warrants to purchase 5,884,455 shares of Common Stock of the Company.
Item 8.01 Other Events.
Also on January 21, 2009, in an unrelated event, the Company issued a press release announcing progress on its 2009 production and business objectives, including an updated implementation schedule for the Company’s megawatts of service connected to the grid. A copy of the press release is incorporated by reference herein as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
| | (d) | Exhibits. |
| | | |
| | 99.1 | Press release of Beacon Power Corporation dated January 22, 2009 announcing progress on its deployment of megawatt systems for frequency regulation. |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | BEACON POWER CORPORATION | |
| | | | |
| Dated: January 27, 2009 | By: | /s/ James M. Spiezio | |
| | | James M. Spiezio | |
| | | Chief Financial Officer | |
| | | | |
EXHIBIT INDEX
| Exhibit No. | |
| | |
| 99.1 | Press release of Beacon Power Corporation dated January 22, 2009 announcing progress on its deployment of megawatt systems for frequency regulation. |
