Hudson Technologies Prices Public Offering Of 6 Mln Shares At $2.50/shr

(RTTNews) - Hudson Technologies Inc. (HDSN) announced the pricing of its underwritten public offering of 6 million shares of its common stock at a purchase price of $2.50 per share.

The gross proceeds to Hudson Technologies from this offering are expected to be approximately $15 million, assuming no exercise of the Underwriters' over-allotment option, before deducting underwriting discounts and estimated offering expenses.

Hudson Technologies has granted the underwriters a 30-day option to purchase up to an aggregate of 900,000 additional shares of common stock to cover over-allotments, if any. The offering is expected to close on or about June 11, 2014, subject to customary closing conditions.

Hudson Technologies intends to use the net proceeds from this offering for working capital and general corporate purposes which may include, among other things, funding acquisitions, although the Company has no present commitments or agreements with respect to any such transactions. Hudson Technologies may also use a portion of the proceeds to reduce or repay indebtedness under its loan agreement with its existing commercial lender.