News & Updates

Apr 30, 2013
Hydrogenics Prices Underwritten Public Offering of Common Shares

Mississauga, Ontario, Canada – April 30, 2013 – Hydrogenics Corporation (HYGS) (HYG.TO), (“Hydrogenics” or “the Company”), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced the pricing of an underwritten public offering of 775,000 common shares at a price of US$7.75 per share. The Company has also granted to the underwriter a 30-day option to acquire an additional 116,250 common shares to cover overallotments in connection with the offering. After deducting the underwriter discount and commissions, the Company expects to receive proceeds before expenses of US$5,645,875, assuming no exercise of the overallotment option. The offering is expected to close on May 3, 2013, subject to customary closing conditions.

Roth Capital Partners, LLC is acting as the sole manager for the offering.

The Company intends to use any net proceeds it receives from the offering for general corporate purposes.

The common shares described above are being offered by the Company pursuant to a registration statement on Form F-3 previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”). A prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov.

A prospectus has not been and will not be filed in Canada. The common shares will not be qualified for sale under the securities laws of Canada or any province or territory of Canada and are not being offered for sale in Canada or to any resident of Canada.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of common shares of the Company, nor shall there be any sale of such common shares 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. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC’s website, www.sec.gov.

About Hydrogenics

Hydrogenics Corporation (www.hydrogenics.com) is a globally recognized developer and provider of hydrogen generation and fuel cell products and services, serving the growing industrial and clean energy markets of today and tomorrow. Based in Mississauga, Ontario, Canada, Hydrogenics has operations in North America and Europe.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

 This release contains forward-looking statements and other statements concerning Hydrogenics objectives and strategies and managements beliefs, plans, estimates and intentions about its achievements, future results, goals, levels of activity, performance, and other future events. Hydrogenics believes the expectations reflected in its forward-looking statements are reasonable, although cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on the managements current expectations and actual results may differ from these forward-looking statements due to numerous factors. Readers should not place undue reliance on these forward-looking statements. Readers are encouraged to review the section captioned ‘Risk Factors’ in Hydrogenics regulatory filings with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission, for a more complete discussion of the factors that could affect the foregoing forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this release, and Hydrogenics undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, unless otherwise required by law. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.