Hudson Technologies, Inc. Announces Pricing of Public Offering of Common Stock
December 09 2016 - 6:30AM
Business Wire
Hudson Technologies, Inc. (NASDAQ:HDSN), announced today the
pricing for 6,428,571 shares of its common stock in an underwritten
public offering at a purchase price of $7.00 per share. The gross
proceeds to Hudson Technologies from the sale of its common stock
in this offering are expected to be approximately $45 million,
before deducting underwriting discounts and estimated offering
expenses. Hudson Technologies has granted the underwriters a 30-day
option to purchase up to an aggregate of 964,285 additional shares
of common stock to cover over-allotments, if any. The offering is
expected to close on or about December 14, 2016, subject to
customary closing conditions.
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, together with a registration
statement pursuant to Rule 462(b) under the Securities Act of 1933,
as amended, have been filed with the Securities and Exchange
Commission (“SEC”) and are effective. A preliminary prospectus
supplement relating to the offering has been filed with the SEC and
a final prospectus supplement relating to the offering will be
filed with the SEC. When available, copies of the final 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161209005116/en/
Investor Relations:Institutional Marketing Services
(IMS)John Nesbett/Jennifer Belodeau,
203-972-9200jnesbett@institutionalms.comorCompany:Hudson
Technologies, Inc.Brian F. Coleman, 845-735-6000President &
COObcoleman@hudsontech.com
Hudson Technologies (NASDAQ:HDSN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Hudson Technologies (NASDAQ:HDSN)
Historical Stock Chart
From Sep 2023 to Sep 2024