Hudson Technologies, Inc. Announces Pricing of Public Offering of Common Stock

PEARL RIVER, NY – December 9, 2016 – Hudson Technologies, Inc. (NASDAQ: HDSN) announced today the pricing for 6,428,571 shares of its common stock in an underwritten public offering at a purchase price of $7.00 per share. The gross proceeds to Hudson Technologies from the sale of its common stock in this offering are expected to be approximately $45 million, before deducting underwriting discounts and estimated offering expenses. Hudson Technologies has granted the underwriters a 30-day option to purchase up to an aggregate of 964,285 additional shares of common stock to cover over-allotments, if any. The offering is expected to close on or about December 14, 2016, subject to customary closing conditions.

Hudson Technologies intends to use the net proceeds from this offering for working capital and general corporate purposes which may include, among other things, funding acquisitions, although the Company has no present commitments or agreements with respect to any such transactions. Hudson Technologies may also use a portion of the proceeds to reduce or repay indebtedness under its loan agreement with its existing commercial lender.

William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC are acting as joint book-running managers. Roth Capital Partners and B. Riley & Co., LLC are acting as co-managers for the offering.

A shelf registration statement relating to the shares of common stock to be issued in the offering, together with a registration statement pursuant to Rule 462(b) under the Securities Act of 1933, as amended, have been filed with the Securities and Exchange Commission (“SEC”) and are effective. A preliminary prospectus supplement relating to the offering has been filed with the SEC and a final prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting William Blair & Company, L.L.C. at 222 West Adams Street, Chicago, IL 60606, Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com; or by contacting Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300, or by email at prospectus@craig-hallum.com. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC website at http://www.sec.gov.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

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Hudson Technologies, Inc. Announces Proposed $49 Million Public Offering of Common Stock

PEARL RIVER, NY – December 5, 2016 – Hudson Technologies, Inc. (NASDAQ: HDSN) announced today that it intends to offer and sell up to $45 million of shares of its common stock, together with certain selling shareholders who intend to offer and sell up to $4 million of shares of common stock, subject to market and other conditions, in an underwritten public offering pursuant to an effective shelf registration. Hudson Technologies also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of shares of common stock offered in the public offering solely to cover overallotments, if any. Hudson Technologies intends to use the net proceeds from this offering for working capital and general corporate purposes which may include, among other things, funding acquisitions, although the Company has no present commitments or agreements with respect to any such transactions. Hudson Technologies may also use a portion of the proceeds to reduce or repay indebtedness under its loan agreement with its existing commercial lender.
William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC are acting as joint book-running managers. Roth Capital Partners and B. Riley & Co., LLC are acting as co-managers for the offering.

A shelf registration statement relating to the shares of common stock to be issued in the offering was filed with the Securities and Exchange Commission (the “SEC”), on Form S-3 (File No. 333-207969) which the SEC declared effective on December 18, 2015. A preliminary prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting William Blair & Company, L.L.C. at 222 West Adams Street, Chicago, IL 60606, Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com; or by contacting Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300, or by email at prospectus@craig-hallum.com. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC website at http://www.sec.gov.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

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Hudson Technologies Expands Refrigerant Reclaim Business

San Juan, P.R.- October 31, 2016 – Hudson Technologies, a leading provider of innovative solutions to recurring problems within the refrigeration industry, has incorporated Puerto Rico in their strategic plans by setting up their Caribbean facilities in Cataño.

After an investment of more than $1 million, Hudson Technologies recently opened and renovated a new 20,000 sq. ft. facility designed to meet the future needs of this successful and growing company, which has doubled its sales in Puerto Rico since opening in December 2015. Recently, Hudson Technologies celebrated this achievement with an appreciation event for its customers which include manufacturers, wholesalers, and contractors from diverse industries.

With five locations across North America and 25 years of service, Hudson Technologies is the largest in its field, and is a leading national provider with global capabilities.
In addition to offering a wide range of refrigerants available for same day delivery, Hudson Technologies is dedicated to the purchase and recycling of more than 20 different used refrigerants, which makes them the largest refrigerant reclaimer in the region.

Currently, Hudson Technologies is the only EPA certified company in Puerto Rico to reclaim and process refrigerant. Moreover, from its laboratory on the island, it provides customers full service refrigerant analysis for purity, moisture, and oil levels.

The company perceives its physical and business establishment in Puerto Rico as a key factor to support its planned expansion into Latin America and the Caribbean. During his visit to the island, Brian Coleman, President and Chief Operations Officer of Hudson Technologies, said that, “our Puerto Rico facility is a valuable and productive asset which expands our geographic reach and enhances our infrastructure and capacity. We believe our presence in Puerto Rico is strategically important to our growth and we are pleased with the initial success of this location.”

In this regard, Ileana Rodríguez, Sales Manager of Hudson Technologies for Puerto Rico, said, “Sales in Puerto Rico have doubled since the opening of this new facility. We are focused on meeting the needs of our existing customers while also winning new customers and this new state-of-the-art facility benefits our efforts in the local marketplace.”
For additional information, call Hudson Technologies at 787-273-7500.

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Hudson Technologies Reports Record Third Quarter Revenues of $34.9 Million; Diluted EPS of $0.14

PEARL RIVER, NY – November 2, 2016 – Hudson Technologies, Inc. (NASDAQ: HDSN) announced results for the third quarter ended September 30, 2016.

The Company achieved record revenues for the three months ended September 30, 2016 of $34.9 million, an increase of 61% compared to $21.7 million in the comparable 2015 period. The revenue increase in the quarter is primarily related to an increase in the price of certain refrigerants, and an increase in the volume of certain refrigerants sold. Gross margin improved to 34% in the third quarter of 2016 compared to 20% in the prior year period. Net income for the quarter was $4.8 million, or $0.14 per basic and diluted share, compared to net income of $1.1 million, or $0.03 per basic and diluted share, in the third quarter of 2015.

For the first nine months of 2016, Hudson recorded revenues of $97.7 million, a 35% increase as compared to $72.4 million in the comparable 2015 period. The increase is primarily related to a higher selling price of certain refrigerants and higher volumes of certain refrigerants sold. Gross margin increased to 31% in the first nine months of 2016 as compared to 24% in the first nine months of 2015. Net income for the first nine months of 2016 was $12.6 million, or $0.38 per basic and $0.37 per diluted share, compared to $5.8 million or $0.18 per basic and $0.17 per diluted share in the first nine months of 2015.

During the third quarter, as previously announced, the Company was awarded, as the prime contractor, a five-year contract including a five-year renewal option, by the United States Defense Logistics Agency (“DLA”) with an estimated maximum value over the 10-year term of the agreement of $400 million in sales to the Department of Defense (“DoD”). The contract is for the management and supply of refrigerants, compressed gases, cylinders and related items to the U.S. Military Commands and Installations, Federal civilian agencies and Foreign Militaries. Primary users include the U.S. Army, Navy, Air Force, Marine Corps and Coast Guard.

Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson Technologies commented, “We’re pleased with our strong third quarter results which include record revenues, significantly improved gross margin and enhanced profitability. We saw a strong finish to our nine-month refrigerant season, as evidenced by our results, and benefited from increases in the average selling price for R-22 refrigerant at a rate faster than we had previously anticipated.”

Mr. Zugibe further stated, “Just two weeks ago, the parties to the Montreal Protocol reached an agreement to amend the Montreal Protocol to provide for a global phase down of HFC compounds by 85% between now and 2047. The agreement has been called a ‘major policy step forward in the global effort to reduce greenhouse gas emissions.’ Hudson has been a longtime advocate for the orderly phase out of refrigerants with high global warming potential, and we believe a strong refrigerant reclamation program is essential to facilitate and accelerate the phase down of HFCs. The US is now in a position to ratify and create a program to limit and eventually eliminate the production of HFC refrigerants within the guidelines of developed nations as provided in the amendment.

“As the leading reclaimer, with proprietary technology, significant geographic reach, established infrastructure and growth capacity, we believe we are well positioned to continue our leadership role in the systematic and global phase out of refrigerants currently in use, as well as next generation refrigerants. Additionally, we believe our long term experience in the industry, coupled with our technological expertise and longstanding industry relationships, uniquely positions us to assist our customers as they contend with ongoing and future refrigerant phase outs.”

Mr. Zugibe concluded, “We are very pleased with the results of our third quarter and with our performance throughout the refrigerant sales season. This is an exciting time for our Company and we look forward to playing a key role in the phase out of these gases and to providing support to our industry as it continues to develop efficient, next generation, climate and ozone friendly technologies and refrigerants.”

CONFERENCE CALL INFORMATION

The Company will host a conference call to discuss the third quarter results today, November 2, 2016 at 5:00 P.M. Eastern Time.

To access the live webcast, log onto the Hudson Technologies website at www.hudsontech.com, and click on “Investor Relations”. To participate in the call by phone, dial (877) 407-9205 approximately five minutes prior to the scheduled start time. International callers please dial (201) 689-8054.

A replay of the teleconference will be available until December 2, 2016 and may be accessed by dialing (877) 660-6853. International callers may dial (201) 612-7415. Callers should use conference ID: 13647219.

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