Hudson Technologies, Inc. Announces Proposed $49 Million Public Offering of Common Stock
December 05 2016 - 6:30AM
Business Wire
Hudson Technologies, Inc. (NASDAQ: HDSN), announced today that
it intends to offer and sell up to $45 million of shares of its
common stock, together with certain selling shareholders who intend
to offer and sell up to $4 million of shares of common stock,
subject to market and other conditions, in an underwritten public
offering pursuant to an effective shelf registration. Hudson
Technologies also expects to grant the underwriters a 30-day option
to purchase up to an additional 15% of shares of common stock
offered in the public offering solely to cover overallotments, if
any. Hudson Technologies intends to use the net proceeds from this
offering for working capital and general corporate purposes which
may include, among other things, funding acquisitions, although the
Company has no present commitments or agreements with respect to
any such transactions. Hudson Technologies may also use a portion
of the proceeds to reduce or repay indebtedness under its loan
agreement with its existing commercial lender.
William Blair & Company, L.L.C. and Craig-Hallum Capital
Group LLC are acting as joint book-running managers. Roth Capital
Partners and B. Riley & Co., LLC are acting as co-managers for
the offering.
A shelf registration statement relating to the shares of common
stock to be issued in the offering was filed with the Securities
and Exchange Commission (the “SEC”), on Form S-3 (File No.
333-207969) which the SEC declared effective on December 18, 2015.
A preliminary prospectus supplement relating to the offering will
be filed with the SEC. When available, copies of the preliminary
prospectus supplement and accompanying prospectus relating to the
offering may be obtained by contacting William Blair & Company,
L.L.C. at 222 West Adams Street, Chicago, IL 60606, Attention:
Prospectus Department, by telephone at (800) 621-0687, or by email
at prospectus@williamblair.com; or by
contacting Craig-Hallum Capital Group LLC at 222 South Ninth
Street, Suite 350, Minneapolis, MN 55402, by telephone at (612)
334-6300, or by email at prospectus@craig-hallum.com. Electronic
copies of the final prospectus supplement and accompanying
prospectus will also be available on the SEC website at
http://www.sec.gov.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted.
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative
solutions to recurring problems within the refrigeration industry.
Hudson Technologies’ proprietary RefrigerantSide® Services increase
operating efficiency and energy savings, and remove moisture, oils
and other contaminants frequently found in the refrigeration
circuits of large comfort cooling and process refrigeration
systems. In addition, the Company sells refrigerants and provides
traditional reclamation services to the commercial and industrial
air conditioning and refrigeration markets.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This news release contains certain forward-looking statements
that involve risks and uncertainties, including, without
limitation, statements regarding the completion, timing and size of
the public offering, the Underwriters’ exercise of the
over-allotment option, Hudson Technologies’ anticipated proceeds
from the offering and its use of those proceeds. Actual results or
developments may differ materially from those projected or implied
in these forward-looking statements. Factors that may cause such a
difference include, without limitation, risks and uncertainties
related to market conditions and the satisfaction of customary
closing conditions related to the public offering. There can be no
assurance that Hudson Technologies will be able to complete the
public offering on the anticipated terms, or at all.
Additional risks and uncertainties faced by the Company are
contained from time to time in the Company’s filings with the SEC,
including, but not limited to, the Company’s Annual Report on Form
10-K for the fiscal year ended December 31, 2015 and its subsequent
quarterly reports on Form 10-Q and current reports on Form 8-K,
which you may obtain for free on the SEC’s website at http://www.sec.gov. Collectively, these risks and
uncertainties could cause the Company’s actual results to differ
materially from those projected in the forward-looking statements
contained herein and you are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date hereof. The Company disclaims any intention or obligation to
update, amend or clarify these forward-looking statements, whether
as a result of new information, future events or otherwise, except
as may be required under applicable securities laws.
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version on businesswire.com: http://www.businesswire.com/news/home/20161205005337/en/
Investor Relations:Institutional Marketing Services
(IMS)John Nesbett/Jennifer
Belodeau203-972-9200jnesbett@institutionalms.comorCompany:Hudson
Technologies, Inc.Brian F. Coleman, President &
COO845-735-6000bcoleman@hudsontech.com
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