Tecogen Inc. Announces Closing of Underwritten Public Offering
Tecogen (NYSE American:TGEN) has successfully closed its underwritten public offering of 3,985,000 shares of common stock at $5.00 per share, including the full exercise of the underwriter's option for an additional 485,000 shares. The offering generated gross proceeds of approximately $19.9 million.
The company plans to utilize the net proceeds for product development, expanding sales and marketing efforts, hiring additional personnel, and capital expenditures, with a particular focus on expansion into the data center market. Roth Capital Partners LLC served as the sole manager and underwriter for the offering.
Tecogen (NYSE American:TGEN) ha completato con successo la sua offerta pubblica sottoscritta di 3.985.000 azioni ordinarie a 5,00 $ per azione, inclusa l'esercitazione completa dell'opzione dell'underwriter per ulteriori 485.000 azioni. L'offerta ha generato proventi lordi per circa 19,9 milioni di dollari.
L'azienda prevede di utilizzare i proventi netti per lo sviluppo di nuovi prodotti, l'espansione delle attività di vendita e marketing, l'assunzione di nuovo personale e investimenti in capitale, con un'attenzione particolare all'espansione nel mercato dei data center. Roth Capital Partners LLC ha agito come unico gestore e sottoscrittore dell'offerta.
Tecogen (NYSE American:TGEN) ha cerrado con éxito su oferta pública suscrita de 3.985.000 acciones ordinarias a 5,00 $ por acción, incluyendo el ejercicio completo de la opción del suscriptor para 485.000 acciones adicionales. La oferta generó ingresos brutos de aproximadamente 19,9 millones de dólares.
La compañÃa planea utilizar los ingresos netos para el desarrollo de productos, la expansión de las ventas y el marketing, la contratación de personal adicional y gastos de capital, con un enfoque particular en la expansión hacia el mercado de centros de datos. Roth Capital Partners LLC actuó como único administrador y suscriptor de la oferta.
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Tecogen (NYSE American:TGEN) a clôturé avec succès son offre publique souscrite de 3 985 000 actions ordinaires à 5,00 $ par action, incluant l'exercice complet de l'option de l'underwriter pour 485 000 actions supplémentaires. L'offre a généré un produit brut d'environ 19,9 millions de dollars.
La société prévoit d'utiliser les produits nets pour le développement de produits, l'expansion des efforts de vente et de marketing, le recrutement de personnel supplémentaire et les dépenses en capital, en mettant particulièrement l'accent sur l'expansion dans le marché des centres de données. Roth Capital Partners LLC a agi en tant que gestionnaire unique et souscripteur de l'offre.
Tecogen (NYSE American:TGEN) hat seine öffentlich gezeichnete Kapitalerhöhung von 3.985.000 Stammaktien zu 5,00 $ pro Aktie erfolgreich abgeschlossen, einschließlich der vollständigen Ausübung der Option des Underwriters für zusätzliche 485.000 Aktien. Die Platzierung erzielte Bruttoerlöse von etwa 19,9 Millionen US-Dollar.
Das Unternehmen plant, die Nettoerlöse für Produktentwicklung, den Ausbau von Vertriebs- und Marketingaktivitäten, die Einstellung zusätzlicher Mitarbeiter sowie Investitionen zu verwenden, wobei ein besonderer Fokus auf die Expansion in den Rechenzentrumsmarkt gelegt wird. Roth Capital Partners LLC fungierte als alleiniger Manager und Underwriter der Platzierung.
- Raised significant capital of $19.9 million through public offering
- Full exercise of underwriter's option indicates strong demand
- Strategic expansion planned into data center market
- Funds allocated for product development and business growth
- Potential dilution for existing shareholders due to 3.985 million new shares
- Additional expenses from underwriting discounts and offering costs will reduce net proceeds
Insights
Tecogen secured nearly $20M in capital, strengthening its balance sheet and funding data center market expansion plans.
Tecogen's
The capital infusion provides Tecogen with substantial financial flexibility to execute on multiple growth initiatives. Most notably, the company has explicitly earmarked these funds to support expansion into the data center market � a high-growth sector with increasing power demands and sustainability requirements. Data centers are intensive energy consumers seeking both reliability and reduced carbon footprints, making them natural targets for Tecogen's clean energy solutions.
Beyond the data center initiative, the allocation toward product development, sales/marketing, and human resources indicates a comprehensive growth strategy. The timing of this capital raise appears strategic, providing Tecogen with sufficient runway to fund these expansion efforts without immediate financial constraints.
The successful completion of this offering strengthens Tecogen's balance sheet considerably and provides a foundation for accelerated growth. While the offering does create dilution for existing shareholders, the capital infusion positions the company to potentially achieve valuation growth that could offset this dilution through successful execution of its expansion plans.
NORTH BILLERICA, MA / / July 21, 2025 / Tecogen Inc. ("Tecogen" or "Company"), (NYSE American:TGEN), a leading manufacturer of clean energy products, today announced the closing of its previously announced underwritten public offering of 3,985,000 shares of common stock, including the full exercise by the underwriter of its option to purchase an additional 485,000 shares, at a public offering price of
Roth Capital Partners LLC acted as sole manager and underwriter for the offering.
Tecogen intends to use the net proceeds from the offering for continued product development, increased sales and marketing activities, sales, marketing, additional human resources, capital expenditures, and other costs and expenses it may incur in connection with its anticipated expansion into the data center market, and for general working capital and corporate purposes.
The securities described above are being offered pursuant to a Registration Statement on Form S-1 (File No. 333-288668), that was filed with the Securities and Exchange Commission ("SEC") on July 15, 2025, as amended, and a Registration Statement on Form S-1 filed with the SEC pursuant to Rule 462(b) under the Securities Act. The offering was made by means of a written preliminary prospectus that forms a part of the registration statement. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at and may also be obtained by contacting Roth Capital Partners, LLC, at 888 San Clemente Drive, Newport Beach, CA 92660, telephone (800) 678-9147 or by email at [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other 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 other jurisdiction.
About Tecogen
Tecogen Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including engine-driven combined heat and power, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational and industrial use. The company provides cost effective, environmentally friendly and reliable products for energy production that nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint. In business for over 35 years, Tecogen has shipped more than 3,200 units, supported by an established network of engineering, sales, and service personnel in key markets in North America. For more information, please visit .
Forward Looking Statements
This press release contains "forward-looking statements" which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," "target," "potential," "will," "should," "could," "likely," or "may" and similar expressions intended to identify forward-looking statements. Tecogen intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors and actual results may differ from those indicated by those forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements.
Important factors that could cause the actual results to differ materially from those indicated in the forward looking statements include the risks and uncertainties described in our Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and in our Current Reports on Form 8-K, under "Risk Factors," and elsewhere therein and in the registration statement and prospectus relating to the offering. Forward-looking statements speak only as of the date on which they are made. Tecogen undertakes no obligation to update or revise any forward-looking statements except as required under applicable law.
Tecogen Media & Investor Relations Contact Information:
Abinand Rangesh
P: 781-466-6487
E: [email protected]
SOURCE: Tecogen, Inc.
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