Hudson Technologies, Inc. Announces Closing of Public Offering of Common Stock & Full Exercise of Underwriters' Option to Pur...
December 14 2016 - 4:05PM
Business Wire
Hudson Technologies, Inc. (NASDAQ: HDSN), announced today the
closing of its previously announced underwritten public offering of
7,392,856 shares of its common stock, which includes the full
exercise by the underwriters of their option to purchase 965,285
shares of common stock to cover over-allotments. Net proceeds from
the sale of common stock, including as a result of the option
exercise, after deducting underwriting discounts and estimated
offering expenses were approximately $48.4 million.
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 acted as joint book-running managers. Roth Capital
Partners and B. Riley & Co., LLC acted as co-managers for the
offering.
The offering was made by means of a prospectus supplement and
accompanying prospectus, copies of which 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, Hudson Technologies’ anticipated use of proceeds from
the offering. Actual results or developments may differ materially
from those projected or implied in these forward-looking
statements. 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/20161214005974/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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