Hydrogenics completes public offering of common shares

On December 16, 2015, Hydrogenics Corporation (Hydrogenics) announced the successful completion of its previously announced underwritten public offering of 2,448,385 common shares at a price of US$7.75 per share, which includes 319,354 common shares issued pursuant to the over-allotment option granted to the underwriters, which was exercised in full. After deducting the underwriter discount and commissions, Hydrogenics received proceeds before expenses of US$17,883,922.

Craig-Hallum Capital Group LLC acted as sole book-running manager on the offering, with Roth Capital Partners as co-manager.

Hydrogenics intends to use its net proceeds from the offering primarily for general corporate purposes, including to support any negative cash flows from operating activities.

Hydrogenics is a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules.

Further information can be found on Hydrogenics' website.