Officers spotted a suspicious, occupied vehicle about 1:10 a.m. parked behind a closed commercial space in the 800 block of North Rose Drive, according to a news release.
"During the contact with the sole male adult occupant, an officer-involved shooting occurred after the man shot at officers, striking the front windshield of a patrol unit," the statement said.
Officers rendered medical aid to the suspect after he was struck by gunfire, said Lt. Chris Anderson, a spokesman for the department. The wounded man was transported to a hospital, where he was pronounced dead.
A loaded handgun was recovered at the scene, according to authorities.
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No officers were injured in the confrontation.
Placentia police detectives urged anyone with information about the shooting to call (714) 993-8146 or Orange County Crime Stoppers at (855) TIP-OCCS.