Hydrogenics Completes Offering of 11,000,000 Shares

February 02, 2004 by Jeff Shepard

Hydrogenics Corp. (Toronto, Canada), a designer and manufacturer of fuel cell technology, announced that it has completed the previously announced sale to the public in the United States and Canada of 11,000,000 common shares at US$5.75 (CDN$7.63) per share. Hydrogenics received net proceeds from the offering of approximately US$60 million.

Citigroup acted as sole book-running manager, and National Bank Financial Inc. and TD Securities Inc. acted as co-managers. The underwriters have been granted an option to purchase up to 1,650,000 additional common shares to cover over-allotments, if any.