HYZON ANNOUNCES PRICING OF $4.5 MILLION REGISTERED DIRECT OFFERING
Hyzon Motors Inc. (NASDAQ: HYZN) has announced a $4.5 million registered direct offering of 22,500,000 shares of its Class A Common Stock and warrants to purchase an additional 22,500,000 shares. The combined offering price is $0.20 per share and accompanying warrant. The warrants have an exercise price of $0.30 per share, are immediately exercisable, and will expire in five years. The offering is expected to close around July 22, 2024. Hyzon plans to use the net proceeds for working capital and general corporate purposes. Roth Capital Partners is acting as the exclusive placement agent for this offering.
Hyzon Motors Inc. (NASDAQ: HYZN) ha annunciato un per 22.500.000 azioni delle sue azioni ordinarie di Classe A e warrant per acquistare ulteriori 22.500.000 azioni. Il prezzo complessivo dell'emissione è di 0,20 dollari per azione e warrant associato. I warrant hanno un prezzo di esercizio di 0,30 dollari per azione, sono immediatamente esercitabili e scadranno tra cinque anni. Si prevede che l'emissione si chiuda intorno al 22 luglio 2024. Hyzon intende utilizzare i proventi netti per capitale circolante e scopi aziendali generali. Roth Capital Partners funge da agente di collocamento esclusivo per questa emissione.
Hyzon Motors Inc. (NASDAQ: HYZN) ha anunciado una para 22,500,000 acciones de sus acciones ordinarias de Clase A y warrants para comprar 22,500,000 acciones adicionales. El precio total de la oferta es de 0.20 dólares por acción y warrant asociado. Los warrants tienen un precio de ejercicio de 0.30 dólares por acción, son ejercitables de inmediato y vencerán en cinco años. Se espera que la oferta se cierre alrededor del 22 de julio de 2024. Hyzon planea utilizar los ingresos netos para capital de trabajo y fines corporativos generales. Roth Capital Partners actúa como el agente de colocación exclusivo para esta oferta.
하이존 모터스 주식회사(NASDAQ: HYZN)는 450만 달러 규모의 등록된 직접 발행을 발표했습니다. 이는 2,250만 주의 클래스 A 보통주와 추가로 2,250만 주를 구매할 수 있는 워런트가 포함됩니다. 종합 발행 가격은 주당 0.20달러 및 관련 워런트입니다. 워런트의 행사가격은 주당 0.30달러이며 즉시 행사 가능하고 5년 후에 만료됩니다. 발행은 2024년 7월 22일 경에 종료될 것으로 예상됩니다. 하이존은 순수익을 운영 자금 및 일반 기업 목적에 사용할 계획입니다. 로스 캐피탈 파트너스가 이번 발행의 독점 배급 대행을 맡고 있습니다.
Hyzon Motors Inc. (NASDAQ: HYZN) a annoncé une offre directe enregistrée de 4,5 millions de dollars portant sur 22 500 000 actions de ses actions ordinaires de Classe A ainsi que des bons de souscription permettant d'acheter 22 500 000 actions supplémentaires. Le prix total de l'offre est de 0,20 dollar par action et bon de souscription associé. Les bons de souscription ont un prix d'exercice de 0,30 dollar par action, sont immédiatement exerçables et expireront dans cinq ans. La clôture de l'offre est prévue pour environ le 22 juillet 2024. Hyzon prévoit d'utiliser le produit net pour le fonds de roulement et des fins d'entreprise générales. Roth Capital Partners agit en tant qu'agent exclusif de placement pour cette offre.
Hyzon Motors Inc. (NASDAQ: HYZN) hat eine registrierte Direktplatzierung über 4,5 Millionen Dollar für 22.500.000 Aktien seiner Stimmrechtsaktien der Klasse A sowie für Warrants zum Kauf von weiteren 22.500.000 Aktien bekannt gegeben. Der Gesamtausgabepreis beträgt 0,20 Dollar pro Aktie und begleitendem Warrant. Die Warrants haben einen Ausübungspreis von 0,30 Dollar pro Aktie, sind sofort ausübbar und laufen in fünf Jahren ab. Der Abschluss der Platzierung wird voraussichtlich um den 22. Juli 2024 erfolgen. Hyzon plant, die Nettoerlöse für Betriebs- und allgemeine Unternehmenszwecke zu verwenden. Roth Capital Partners fungiert als exklusiver Platzierungsagent für diese Platzierung.
- Raised $4.5 million in additional capital
- Warrants provide potential for future capital influx at $0.30 per share
- Funds to be used for working capital and general corporate purposes
- Significant dilution for existing shareholders
- Low offering price of $0.20 per share indicates weak market position
- Need for additional funding suggests potential cash flow issues
The pricing of Hyzon Motors' registered direct offering at
Additionally, the issuance of 22.5 million shares and warrants to purchase another 22.5 million shares at
On the positive side, the funds raised will be allocated towards working capital and general corporate purposes, indicating that the company is focusing on maintaining its operations and potentially investing in growth initiatives. However, reliance on funding through equity offerings may be a sign that the company is facing liquidity challenges or has limited access to debt financing.
Hyzon Motors operates in the hydrogen fuel cell market, a sector known for its potential but also for its volatility. The fact that the company is conducting a direct offering suggests it is trying to capitalize on current investor interest in clean energy technologies. The issuance of warrants, exercisable at
However, the hydrogen fuel cell market is competitive, with numerous established players and new entrants. Investors should consider the broader market dynamics, such as regulatory support for clean energy, technological advancements and competition from other zero-emission technologies like battery electric vehicles. Hyzon’s ability to stand out in this landscape will be important for its long-term success.
Furthermore, the company's reliance on institutional investors for this offering indicates a certain level of confidence from informed market participants, which can be a positive signal. Nonetheless, retail investors should weigh this against the potential risks and the current lower offering price.
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
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
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.
About Hyzon
Hyzon is a global supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. With agile, high-power technology designed for heavy-duty applications, Hyzon is at the center of a new industrial revolution fueled by hydrogen, an abundant and clean energy source. Hyzon is focusing on deploying its fuel cell technology in heavy-duty commercial vehicles in Class 8 and refuse vehicles across
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, express or implied forward-looking statements regarding the timing, size and expected gross proceeds of the offering, the satisfaction of customary closing conditions related to the offering and sale of securities, the Company's ability to complete the offering, the use of proceeds from the offering and the Company's other expectations, hopes, beliefs, intentions, or strategies for the future. You are cautioned that such statements are not guarantees of future performance and that the Company's actual results may differ materially from those set forth in the forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause the Company's actual expectations to differ materially from these forward-looking statements include the Company's ability improve its capital structure; Hyzon's liquidity needs to operate its business and execute its strategy, and related use of cash; its ability to raise capital through equity issuances, asset sales or the incurrence of debt; the possibility that Hyzon may need to seek bankruptcy protection; Hyzon's ability to fully execute actions and steps that would be probable of mitigating the existence of substantial doubt regarding its ability to continue as a going concern; our ability to enter into any desired strategic alternative on a timely basis, on acceptable terms; our ability to maintain the listing of our Common Stock on the Nasdaq Global Select Market or the Nasdaq Capital Market; retail and credit market conditions; higher cost of capital and borrowing costs; impairments; changes in general economic conditions; and the other factors under the heading "Risk Factors" set forth in the Company's Annual Report on Form 10-K, as supplemented by the Company's quarterly reports on Form 10-Q and current reports on Form 8-K. Such filings are available on our website or at www.sec.gov. You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof. The Company undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws.
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SOURCE Hyzon
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