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BRIEF-Hydrogenics Announces $20.5 Million Private Placement

Published 2018-12-21, 09:14 a/m
BRIEF-Hydrogenics Announces $20.5 Million Private Placement

Dec 21 (Reuters) - Hydrogenics Corp HYG.TO :

* HYDROGENICS ANNOUNCES US$20.5 MILLION PRIVATE PLACEMENT AND TECHNOLOGY PARTNERSHIP WITH AIR LIQUIDE

* HYDROGENICS CORP - ENTERED INTO A SUBSCRIPTION AGREEMENT WITH HYDROGEN COMPANY, A WHOLLY-OWNED SUBSIDIARY OF AIR LIQUIDE S.A.

* HYDROGENICS - TO ISSUE 3.5 MILLION COMMON SHARES OF CO TO AIR LIQUIDE ON A PRIVATE PLACEMENT BASIS FOR ABOUT US$5.80 PER COMMON SHARE

* HYDROGENICS CORP - ENTERED TECHNOLOGY & BUSINESS DEVELOPMENT AGREEMENT WITH AIR LIQUIDE TO JOINTLY DEVELOP PEM ELECTROLYSIS TECHNOLOGIES

* HYDROGENICS - FOLLOWING COMPLETION OF PRIVATE PLACEMENT, AIR LIQUIDE'S INTEREST IN CO IS EXPECTED TO BE ABOUT 18.6%

* HYDROGENICS CORP - SUBSCRIPTION AGREEMENT PROVIDES AIR LIQUIDE TO HAVE PRE-EMPTIVE RIGHTS & RIGHT TO NOMINATE 1 DIRECTOR TO BOARD OF HYDROGENICS

* HYDROGENICS - CO INTENDS TO USE PROCEEDS OF PRIVATE PLACEMENT PRIMARILY FOR PURPOSE OF FUNDING CURRENT OPERATIONS, AMONG OTHERS

* HYDROGENICS CORP - AIR LIQUIDE TO BE SUBJECT TO CERTAIN RESTRICTIONS, INCLUDING LOCK-UP, TRANSFER, STANDSTILL & VOTING RESTRICTIONS

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