Transaction|May 8, 2015
Hydrogenics closes debt facility
Torys acted as counsel to Hydrogenics with a team led by John Emanoilidis and that included Tom Zverina (lending), Jamie Becker, Mile Kurta and Jason Zhou (securities).
On May 8, 2015, Hydrogenics Corporation (Hydrogenics) announced that it successfully completed the closing of its previously announced US$7.5 million loan facility with a syndicate of lenders led by Cinnamon Investments Limited, including the issuance of 250,000 share purchase warrants to the lenders. Each warrant is exercisable for one common share of the Company at an exercise price of US$15.00 per common share.
Hydrogenics intends to use its net proceeds from the facility primarily for manufacturing expansion and general corporate purposes.
Hydrogenics is a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules.
Further information can be found on Hydrogenics' website.