Hydrogenics Corporation (TSX: HYG; NASDAQ: HYGS), a leading developer and manufacturer of hydrogen generation and hydrogen-based fuel cell modules, has closed previously announced US $21 million private placement of 2,682,742 common shares of Hydrogenics to Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership.
Immediately following completion of the financing, Hejili holds 2,682,742 common shares representing approximately 17.6% of current issued and outstanding common shares of Hydrogenics.
GMP Securities Asia Limited acted as advisors to Hydrogenics in connection with the private placement. Hawkbridge Capital and Northeast Securities acted as advisors to Hejili. Torys LLP and Bennett Jones LLP acted as legal counsel Hydrogenics and Hejili respectively.
Based in Fuzhou, Fujian China, Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership (福州保税区合吉利股权投资) is a limited partnership founded in 2016. Hejili’s partners include Fujian Snowman Co., Ltd., Ningbo Meishan Bonded Zone Mingde Investment Partnership, Ningbo Meishan Bonded Zone Mingde Investment Partnership, and Snow-Hydro Industrial Investment Management Ltd.
photo credit: Hydrogenics