By Devika Patel
Knoxville, Tenn., July 1 - Hudson Technologies, Inc. said it arranged a $5.48 million registered direct offering of stock.
The company will sell 2,737,500 common shares at $2.00 apiece. Investors also will receive warrants for 1,368,750 shares, which are exercisable at $2.60 for five years.
Canaccord Genuity Inc. is the agent.
Settlement is expected July 7.
Proceeds will be used for working capital and general corporate purposes, as well as to repay debt.
Hudson Technologies provides services to the refrigeration industry and is based in Pearl River, N.Y.
| Issuer: | Hudson Technologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $5,475,000
|
| Shares: | 2,737,500
|
| Price: | $2.00
|
| Warrants: | For 1,368,750 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.60
|
| Agent: | Canaccord Genuity Inc.
|
| Pricing date: | July 1
|
| Settlement date: | July 7
|
| Stock symbol: | Nasdaq: HDSN
|
| Stock price: | $2.04 at close June 30
|
| Market capitalization: | $41.3 million
|
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