Tecogen plans to price IPO of 2 million shares between $4.75 and $5.75

Scarsdale Equities raises proceeds to expand the company's business

By Devika Patel

Knoxville, Tenn., April 17 - Tecogen Inc. will sell 2 million common shares in its initial public offering, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The offer was announced on June 3, and the company had previously said it planned to sell 3 million shares at a price expected to be between $5.50 and $7.50 per share.

The shares will now be sold at a price expected to be between $4.75 and $5.75 per share.

Scarsdale Equities LLC is the agent.

Proceeds will be used to expand the company's business, refine models and develop new products, 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. The company intends to list its common stock on the Nasdaq stock exchange under the symbol "TGEN."

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