BioHiTech Global, Inc. Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

BioHiTech Global, Inc. (Nasdaq: BHTG) has announced an underwritten public offering of its common stock, subject to market conditions. This offering is made under an effective shelf registration statement filed with the SEC in December 2018. A preliminary prospectus supplement detailing the offering's terms will be filed shortly. The company cautions that there is no guarantee regarding the completion of the offering or its terms.

Positive

• Public offering may enhance cash flow and support growth initiatives.

Negative

• Potential dilution of existing shareholders due to new stock issuance.

CHESTNUT RIDGE, N.Y., July 24, 2020 /PRNewswire/ -- BioHiTech Global, Inc. (Nasdaq: BHTG) ("BioHiTech," or the "Company"), a technology and services company that provides cost-effective and sustainable waste management solutions, today announced it has commenced an underwritten public offering of shares of its common stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The public offering is being made pursuant to an effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (SEC) on December 28, 2018 and declared effective on January 31, 2019. A preliminary prospectus supplement describing the terms of the public offering will be filed with the SEC and will form a part of the effective registration statement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 the registration or qualification under the securities laws of any such state or jurisdiction.

Forward Looking Statements
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements, including statements about the benefits of this leasing program, potential improvements to cash flow, and the growth of its digester business, are based on many assumptions and estimates that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BioHiTech Global, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. BioHiTech Global, Inc. assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the BioHiTech's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. BioHiTech Global, Inc. assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.

Company Contact:
BioHiTech Global, Inc.
Richard Galterio
Executive Vice President
Direct: 845.367.0603
rgalterio@biohitech.com
www.biohitech.com

Investors:
ir@biohitech.com

 

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SOURCE BioHiTech Global, Inc.

FAQ

What is the purpose of BioHiTech's public offering of common stock?

The public offering aims to enhance cash flow and support growth initiatives.

When was the Shelf Registration Statement for BioHiTech's offering filed?

The effective shelf registration statement was filed with the SEC on December 28, 2018.

What does the public offering mean for existing BHTG shareholders?

The public offering may lead to potential dilution of existing shareholders' equity.