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): April 20, 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.) |
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65 Middlesex Road Tyngsboro, Massachusetts 01879 (Address of Principal Executive Offices) (Zip Code) |
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(978) 694-9121 (Registrant's telephone number, including area code) |
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Not Applicable (Former name or former address, if changed since last report) |
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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 8.01 Other Events.
As previously disclosed in a Form 8-K on February 20, 2009, Beacon Power Corporation (the “Company” or “Beacon”) entered into a Common Stock Purchase Agreement (the “Agreement”) whereby the Company agreed to issue to Seaside 88, LP (“Seaside”) and Seaside agreed to buy $1 million worth of shares of Beacon Common Stock once each month at a monthly closing on the 20th day of each month (or if that day is not a business day, then on the next business day) for a period of six months commencing on February 20, 2009 at a purchase price equal to 80% of the volume weighted average trading prices of the Company’s common stock, par value $0.01 per share (the “Common Stock”) during the five-day period immediately preceding each monthly issuance, but in no event below $0.20 per share. Accordingly, on April 20, 2009 Seaside will purchase 1,912,777 shares of the Company’s Common Stock at a price per share of $0.5228 having an aggregate value of $1,000,000 and, pursuant to the Agreement, the Company will pay Seaside $9,000 in non-accountable expenses.
Item 9.01 Financial Statements and Exhibits.
| | (d) | Exhibits |
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| | 5.1 | Opinion of Edwards Angell Palmer & Dodge LLP |
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| | 23.2 | Consent of Edwards Angell Palmer & Dodge LLP (contained in Exhibit 5.1) |
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 | |
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| Dated: April 20, 2009 | By: | /s/ James M. Spiezio | |
| | | James M. Spiezio | |
| | | Chief Financial Officer | |
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EXHIBIT INDEX
| | Exhibit No. | Description |
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| | 5.1 | Opinion of Edwards Angell Palmer & Dodge LLP |
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| 23.2 | Consent of Edwards Angell Palmer & Dodge LLP (contained in Exhibit 5.1) |
