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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.
Posted In: HYZN
