CDTi Announces Underwritten Public Offering of Common Stock and Warrants
VENTURA, Calif., June 27, 2013 (GLOBE NEWSWIRE) -- Clean Diesel Technologies,
Inc. (Nasdaq:CDTI) ("CDTi" or the "Company") announced today that it has
commenced a registered public offering of shares of its common stock and
warrants to purchase shares of common stock pursuant to its existing shelf
registration statement, subject to market and other conditions. The Company
also intends to grant the underwriter of the public offering an option to
purchase additional shares and/or warrants to cover over-allotments, if any,
exercisable for 30 days. The Sole Manager for the public offering is Roth
Capital Partners, LLC.
In addition, CDTi intends to concurrently convert $235,000 of principal and
interest due June 30, 2013, pursuant to loans made to the Company by one of
its principal lenders and largest shareholders, to common stock and warrants,
and to sell $100,000 of common stock to one of its directors in a private
The public offering will be made pursuant to a shelf registration statement on
Form S-3, including a base prospectus dated May 21, 2012, previously filed and
declared effective by the Securities and Exchange Commission (the "SEC").A
preliminary prospectus supplement related to the offering has been filed with
the SEC and is available on the SEC's website located at http://www.sec.gov.
Copies of the preliminary prospectus supplement and related base prospectus
may also be obtained from Roth Capital Partners, LLC at 888 San Clemente
Drive, Newport Beach, CA 92660, or by telephone at (800)678-9147, or by
e-mail at email@example.com.
Before you invest in the public offering, you should read the prospectus in
that registration statement and related prospectus supplements and other
documents that the Company has filed or will file with the SEC for more
complete information about the issuer and the public offering. You may get
these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, you may obtain a preliminary prospectus supplement and
accompanying prospectus as indicated above.
This press release is neither an offer to sell nor a solicitation of an offer
to buy any of these securities and shall not constitute an offer, solicitation
or sale in any jurisdiction in which such offer, solicitation or sale is
The securities to be sold in the private placement will not be registered
under the Securities Act of 1933, as amended, or any state securities laws and
may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirement of such Act and
applicable state securities laws.
CDTi is a global manufacturer and distributor of emissions control systems and
products, focused on the heavy duty diesel and light duty vehicle markets.
CDTi is headquartered in Ventura, California and currently has operations in
the U.S., Canada, France, Japan and Sweden.
Forward-Looking Statements Safe Harbor
Certain statements included in this press release are intended as
"forward-looking statements." These statements include assumptions,
expectations, predictions, intentions or beliefs about future events,
particularly the consummation of the transactions described above. The
Company cautions that actual future results may vary materially from those
expressed or implied in any forward-looking statements. Specifically, the
Company cannot assure you that the proposed transactions described above will
be consummated on the terms the Company currently contemplates, if at
all.Information concerning these and other factors can be found in the
Company's filings with the SEC, including its Forms 10-K, 10-Q and 8-K, which
can be obtained free of charge on the SEC's web site at http://www.sec.gov.
Any forward-looking statements made in this press release speak only as of the
date of this release and, except as required by law, the Company undertakes no
obligation to update any forward-looking statement contained in this press
release, even if the Company's expectations or any related events, conditions
or circumstances change. The Company is not responsible for any changes made
to this release by wire or Internet services.
CONTACT: Kevin M. McGrath
Cameron Associates, Inc.
Tel: +1 (212) 245-4577
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