Hyzon Announces Pricing Of $4,5 Million Registered Direct Offering.
Hyzon Motors Inc. (NASDAQ: HYZN) (“Hyzon” or the “Company”), a U.S.-based manufacturer and global supplier of high-performance hydrogen fuel cell systems focused on providing zero-emission power to decarbonize the most demanding industries, today announced that it has entered into a securities purchase agreement with certain institutional investors for the purchase and sale of 22,500,000 shares of its Class A Common Stock (“Common Stock”) and warrants to purchase 22,500,000 shares of its Common Stock (the “Warrants”), at a combined offering price of $0.20 per share and accompanying Warrant, in a registered direct offering. The Warrants have an exercise price of $0.30 per share, are immediately exercisable and will expire five years following the date of issuance.
The closing of the offering is expected to occur on or about July 22, 2024. The Company intends to use the net proceeds from this offering primarily for funding working capital and other general corporate purposes.
Roth Capital Partners is acting as exclusive placement agent for the offering on a best efforts basis.
The gross proceeds from the offering to the Company are expected to be approximately $4.5 million, before deducting placement agent fees and other offering expenses payable by the Company.
The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-280006) previously filed with the U.S. Securities and Exchange Commission (the “SEC”), which was declared effective by the SEC on June 26, 2024. The offering will be made only by means of a prospectus supplement and accompanying base prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the proposed transaction may be obtained, when available, from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC’s website, www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Hyzon Announces Pricing Of $4,5 Million Registered Direct Offering. source