Hudson Technologies, Inc. (NASDAQ:HDSN), announced today that it
intends to offer and sell shares of its common stock, subject to market
and other conditions, in an underwritten public offering pursuant to an
effective shelf registration statement. Hudson Technologies also expects
to grant the underwriters a 30-day option to purchase up to an
additional 15% of shares of common stock offered in the proposed
offering to cover overallotments, if any. Hudson Technologies intends to
use the net proceeds from the proposed 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.
In connection with the proposed offering, William Blair & Company,
L.L.C. is acting as the sole book-running manager. Craig-Hallum Capital
Group LLC and Roth Capital Partners, LLC are acting as co-managers for
the proposed offering.
A shelf registration statement relating to the shares of common stock to
be issued in the proposed offering was filed with the Securities and
Exchange Commission (the “SEC”), on Form S-3 (File no. 333-185490) which
the SEC declared effective on January 22, 2013. A preliminary prospectus
supplement relating to the proposed offering will be filed with the SEC.
When available, copies of the preliminary prospectus supplement and
accompanying prospectus 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.
Electronic copies of the preliminary 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's
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. Performed at a
customer's site as an integral part of an effective scheduled
maintenance program or in response to emergencies, RefrigerantSide®
Services offer significant savings to customers due to their ability to
be completed rapidly and at higher purity levels, and can be utilized
while the customer's system continues to operate. In addition, the
Company sells refrigerants and provides traditional reclamation services
to the commercial and industrial air conditioning and refrigeration
markets. For further information on Hudson Technologies, please visit
the Company's web site at www.hudsontech.com.
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 Company’s expectations regarding the sale of
shares of its common stock in the proposed public offering and other
statements that are not purely statements of historical fact. 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 proposed public offering. There can be no
assurance that Hudson Technologies will be able to complete the proposed
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, 2013 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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