Tecogen to price $25 million initial public offering of common stock

Northland Capital Markets, Scarsdale Equities to be joint bookrunners

By Devika Patel

Knoxville, Tenn., June 3 - Tecogen Inc. plans to conduct an initial public offering of its common stock that will raise up to $25 million, according to an S-1 filed Monday with the Securities and Exchange Commission. The company intends to list its common stock on the Nasdaq under the symbol "TGEN."

The deal will have a 30-day greenshoe option.

Northland Capital Markets and Scarsdale Equities are the joint bookrunning managers.

Proceeds will be used to pay off debt and for working capital and general corporate purposes.

Based in Waltham, Mass., Tecogen is a manufacturer of natural gas-fueled, engine-driven, combined heat and power products that aim to reduce energy costs, greenhouse gas emissions and congestion on the national power grid.

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