Hudson Technologies, Inc. (NASDAQ: HDSN), a distributor and reclaimer of
refrigerants as well as a provider of proprietary on-site
decontamination services for large comfort and process cooling systems,
announced that it has completed the sale of 1,470,000 shares of its
common stock to two institutional investors as part of a registered
direct offering to sell up to 3,870,000 shares of its common stock.
Under the terms of the subscription agreements with the initial two
investors, Hudson Technologies sold an aggregate of 1,470,000 shares of
its common stock at a price of $1.15 per share, and received net
proceeds, after deducting placement agent fees and other estimated
offering expenses, of approximately $1.5 million.
Proceeds from the initial closing and from any future sales under the
offering, will be used for working capital, as well as for other general
corporate purposes including sales and marketing programs. Hudson may
also use a portion of the proceeds to fund acquisitions, although it has
no present commitments or agreements with respect to any such
transactions. Hudson may also, at its discretion, apply the proceeds of
the offering to pay down a portion of its revolving credit facility.
Roth Capital Partners, LLC, is acting as the placement agent for the
offering on a “best efforts” basis.
A shelf registration statement relating to these securities (File
No. 333-151973) has been declared effective by the Securities and
Exchange Commission, and a prospectus supplement relating to the
offering has been filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. Any offer of these securities
will be solely by means of a prospectus included in the registration
statement and the prospectus supplement. Copies of the final prospectus
and the prospectus supplement can be obtained at the Securities and
Exchange Commission’s website, www.sec.gov,
or from Hudson Technologies at PO Box 1541, 1 Blue Hill Plaza, Pearl
River, NY 10965, Attention: Secretary.
About Hudson Technologies
Hudson Technologies, Inc.
