CHESTNUT RIDGE, N.Y.,
Sept. 6, 2019 /PRNewswire/
-- BioHiTech Global, Inc. ("BioHiTech" or the "Company")
(NASDAQ: BHTG), a technology and services company that provides
cost-effective and sustainable waste management solutions, today
announced it has entered into agreements for the sale of 1,750,000
shares of common stock in a registered direct offering at a price
of $1.80 per share.
The estimated net proceeds to BioHiTech from the registered
direct offering are expected to be approximately $2.8 million after deducting the placement
agent's fees and other estimated offering expenses. The offering is
expected to close on or about September 9,
2019 subject to the satisfaction of customary closing
conditions.
Spartan Capital Securities, LLC is acting as the exclusive
placement agent for this offering.
The offering was made pursuant to an effective shelf
registration statement on Form S-3 previously filed with and
subsequently declared effective by the Securities and Exchange
Commission (the "SEC"). A prospectus supplement relating to the
offering is being filed with the Securities and Exchange
Commission. Copies of the prospectus supplement relating to the
offering, together with the accompanying base prospectus included
in the registration statement, may be obtained from the Securities
and Exchange Commission at www.sec.gov, or from the Company at 80
Red Schoolhouse Road, Suite 101, Chestnut
Ridge, NY 10977, Telephone (845) 262-1081. Electronic copies
of the prospectus supplement and accompanying base prospectus may
also be obtained from Spartan Capital Securities, LLC, 45 Broadway,
New York, NY 10006, at (212)
293-0123.
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 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 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 are
based on many assumptions and estimates and are not guarantees of
future performance. These statements 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.
Rich Galterio
Executive Vice President
Direct: 845.367.0603
rgalterio@biohitech.com
www.biohitech.com
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SOURCE BioHiTech Global, Inc.