Pearl River, New York - September 11, 2007 - Hudson Technologies, Inc. (Nasdaq: HDSN) today announced the final results of its Tender Offer to purchase and retire up to approximately 1.2 million additional shares of its common stock at a purchase price of $1.12 share, which expired at 5:00 PM Eastern Time on September 7, 2007.

 

A total of 55,353 shares of Hudson's common stock were tendered to, and accepted for purchase by Hudson in the Tender Offer, all of which will be retired by the Company.  The aggregate purchase price of approximately $62,000 will be paid from existing cash reserves. Payment for the shares accepted in the tender offer will be made through the depositary agent, Continental Stock Transfer and Trust Company. The depositary agent will return stock certificates to any shareholders whose shares were tendered after the offer expired.  Neither the Fleming Funds nor any directors or executive officers of the Company tendered shares.

 

With the completion of the tender offer, the Company now has 20,179,311 shares of common stock outstanding.  The sum of $1,245,493, representing the balance of the $1.3 million authorized for the Tender Offer, will be used to purchase and retire additional shares from the Fleming Funds at the Tender Offer price of $1.12 per share.  The Company expects to complete the purchase of those additional shares on or about September 25, 2007.  Upon completion of the purchase of those additional shares from the Fleming Funds the Company will have 19,067,264 shares of common stock outstanding.

 

About Hudson Technologies

Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide® Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer's site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide® Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer's system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. For further information on Hudson, please visit the Company's web site at www.hudsontech.com. Information on Hudson's website is not a part of this release. 

 

Safe Harbor Statement under the Private Securities Litigation Act of 1995

Statements contained herein, which are not historical facts constitute forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, but are not limited to, changes in the markets for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements which become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission.  The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

 

 

Contact:         

Eric Anderson

Coltrin & Associates (for Hudson Technologies)

212-221-1616 ext.117 eric_anderson@coltrin.com