Bookrunner Craig-Hallum and co-manager Roth Capital Partners assisted
By Devika Patel
Knoxville, Tenn., Dec. 16 – Hydrogenics Corp. said the underwriters for its public offering of stock opted to exercise the deal’s $2.47 million greenshoe in full, lifting total proceeds of the offering to $18.97 million. The deal was announced Dec. 7 and priced for $16.5 million with the greenshoe on Dec. 11.
The company sold 2,448,385 common shares at $7.75 per share. The price per share is a 0.39% discount to the Dec. 10 closing share price of $7.78. Of the shares, 319,354 were part of the fully exercised greenshoe.
Craig-Hallum Capital Group LLC was the bookrunner.
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: | $18,974,984, including $2,474,994 greenshoe
|
| Shares: | 2,448,385, including 319,354 sold via greenshoe
|
| Price: | $7.75
|
| Warrants: | No
|
| Bookrunner: | Craig-Hallum Capital Group LLC
|
| Co-manager: | Roth Capital Partners
|
| Announcement date: | Dec. 7
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 16
|
| Stock symbol: | Nasdaq: HYGS
|
| Stock price: | $7.78 at close Dec. 2
|
| Market capitalization: | $87 million
|
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