CHESTNUT RIDGE, N.Y.,
July 27, 2020 /PRNewswire/
-- BioHiTech Global, Inc., (Nasdaq: BHTG) ("BioHiTech," or the
"Company"), a technology and services company that provides
cost-effective and sustainable waste management solutions, today
announced the pricing of its underwritten public offering of
4,550,000 shares of its common stock at a public offering price of
$1.81 per share. The gross proceeds
from the public offering will be approximately $8.2 million, before deducting underwriting
discounts and commissions and estimated offering expenses.
Maxim Group LLC is acting as the lead book-running manager for
the offering and Spartan Capital Securities, LLC is acting as
co-book runner for the offering.
BioHiTech Global also has granted to the underwriter a 45-day
option to purchase up to an additional 682,500 shares of common
stock, at the public offering price less discounts and
commissions.
The public offering is being made pursuant to an effective shelf
registration statement on Form S-3 that was filed with the U.S.
Securities and Exchange Commission (SEC) on December 28, 2018 and declared effective on
January 31, 2019. A preliminary
prospectus supplement describing the terms of the public offering
has been filed with the SEC. A final prospectus supplement will be
filed with the SEC and will form a part of the effective
registration statement. Copies of the final prospectus supplement
and accompanying prospectus relating to the public offering may be
obtained, when available, by contacting Maxim Group LLC, 405
Lexington Avenue, 2nd Floor, New York,
NY 10174, or by telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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 the registration or
qualification under the securities laws of any such state or
jurisdiction.
About BioHiTech Global
BioHiTech Global, Inc. (NASDAQ:
BHTG), is changing the way we think about managing waste. Our
cost-effective technology solutions include the patented processing
of municipal solid waste into a valuable renewable fuel, biological
disposal of food waste on-site, and proprietary real-time data
analytics tools to reduce food waste generation. Our unique
solutions enable businesses and municipalities of all sizes to
lower disposal costs while having a positive impact on the
environment. When used individually or in combination, our
solutions lower the carbon footprint associated with waste
transportation and can reduce or virtually eliminate landfill
usage. For more information, please visit www.biohitech.com.
Forward Looking Statements
Statements in this document
contain certain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements,
including statements about the benefits of this leasing program,
potential improvements to cash flow, and the growth of its digester
business, are based on many assumptions and estimates that may
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
BioHiTech Global, Inc. to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. BioHiTech Global, Inc. assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Our actual results may differ materially
from the results anticipated in these forward-looking statements
due to a variety of factors, including, without limitation those
set forth as "Risk Factors" in our filings with the Securities and
Exchange Commission ("SEC"). There may be other factors not
mentioned above or included in the BioHiTech's SEC filings that may
cause actual results to differ materially from those projected in
any forward-looking statement. BioHiTech Global, Inc. assumes no
obligation to update any forward-looking statements as a result of
new information, future events or developments, except as required
by securities laws.
Company Contact:
BioHiTech Global, Inc.
Richard Galterio
Executive Vice President
Direct: 845.367.0603
rgalterio@biohitech.com
www.biohitech.com
Investors:
ir@biohitech.com
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SOURCE BioHiTech Global, Inc.