Hydrogenics Corp. (HYGS,HYG.TO) said Tuesday that it has priced an underwritten public offering of 775,000 common shares at a price of US$7.75 per share.
The company has also granted to the underwriter a 30-day option to acquire an additional 116,250 common shares to cover overallotments in connection with the offering.
After deducting the underwriter discount and commissions, the company expects to receive proceeds before expenses of about US$5.65 million, assuming no exercise of the overallotment option.
The offering is expected to close on May 3.
The company plans to use any net proceeds it receives from the offering for general corporate purposes.
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