Hydrogenics seeks permit for up to USD 25m in stock, debt sales

Aug 1, 2012 - Canadian fuel cell and hydrogen generation specialist Hydrogenics Corp (TSE:HYG) is looking for regulatory permission to issue debt, equity and other securities to a total amount of USD 25 million (EUR 20.3m).

The proceeds of any possible issue will be used by the company to finance its current operations and future growth opportunities.

To secure that permission, Hydrogenics has filed a preliminary short form base shelf prospectus with certain Canadian securities regulatory authorities and a registration statement on Form F-3 with the US Securities and Exchange Commission. The prospectus needs to become final and the registration statement to be declared effective for the company to be able to offer different securities. The prospectus and registration statement will have a term of 25 months.

Hydrogenics explained that it needed more flexibility to access the capital markets as a result of significant growth in demand for energy storage applications.

(USD 1 = EUR 0.812)

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