Roth Capital Partners helps raise funds for general corporate purposes
By Devika Patel
Knoxville, Tenn., May 3 - Hydrogenics Corp. said the underwriters for its public offering of stock opted to exercise the deal's $900,938 greenshoe in full for total proceeds of $6.91 million. The deal was announced April 29 and priced for $6.01 million with the greenshoe on April 30.
The company sold 891,250 common shares at $7.75 per share. The price per share is a 5.26% discount to the April 29 closing share price of $8.18. Of the shares, 116,250 were part of the fully exercised greenshoe.
Roth Capital Partners, LLC was the manager.
Proceeds will be used for general corporate purposes.
Based in Mississauga, Ont., Hydrogenics is a developer and provider of hydrogen generation and fuel cell products and services.
| Issuer: | Hydrogenics Corp.
|
| Issue: | Common stock
|
| Amount: | $6,907,188 (including $900,938 greenshoe)
|
| Shares: | 891,250
|
| Price: | $7.75
|
| Warrants: | No
|
| Manager: | Roth Capital Partners, LLC
|
| Announcement date: | April 29
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Stock symbol: | Nasdaq: HYGS
|
| Stock price: | $8.18 at close April 29
|
| Market capitalization: | $66.11 million
|
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