Clean Diesel Technologies, Inc. Announces Completion of Equity Offering and the Underwriters’ Exercise of the Over-Allotment Option
VENTURA, Calif., July 5, 2011 /PRNewswire/ — Clean Diesel Technologies, Inc. (NASDAQ: CDTI) (“Clean Diesel”), a cleantech emissions reduction company, announced today that it has closed its public offering announced on June 29, 2011. The offering of 3,133,750 shares includes 408,750 shares purchased by the underwriters to cover over-allotments as well as 80,000 shares offered by the selling stockholders. The offering has resulted in total net proceeds to Clean Diesel of approximately $10.1 million.
Roth Capital Partners acted as sole book-runner for the offering and Maxim Group LLC acted as a co-manager.
A registration statement relating to the offering was declared effective by the Securities and Exchange Commission on June 28, 2011. This offering was made solely by means of a prospectus, copies of which may be obtained from: Roth Capital Partners, Attention: Equity Capital Markets, 24 Corporate Plaza Drive, Newport Beach, CA 92660, by telephone at (800) 678-9147, or via email at firstname.lastname@example.org.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any securities of Clean Diesel, 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 registration or qualification under the securities laws of any such state or jurisdiction.
About Clean Diesel Technologies, Inc.
Clean Diesel is a vertically integrated global manufacturer and distributor of emissions control systems and products, focused on the heavy duty diesel and light duty vehicle markets. Clean Diesel utilizes its proprietary patented Mixed Phase Catalyst (MPCÃ‚®) technology, as well as its ARISÃ‚® selective catalytic reduction, Platinum PlusÃ‚® fuel-borne catalyst, and other technologies to provide high-value sustainable solutions to reduce emissions, increase energy efficiency and lower the carbon intensity of on- and off-road engine applications. Clean Diesel is headquartered in Ventura, California and currently has operations in the U.S., Canada, U.K., France, Japan and Sweden. For more information, please visit www.cdti.com.
SOURCE Clean Diesel Technologies, Inc.