Hudson Technologies Inc 8-K, filed Jun 29, 2021
Hudson Technologies Inc (HDSN)
About this 8-K
Hudson Technologies Inc filed this 8-K on June 29, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
| Date of report (Date of earliest event reported) | June 29, 2021 |
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Hudson Technologies, Inc. |
| (Exact Name of Registrant as Specified in Charter) |
|
New York |
| (State or Other Jurisdiction of Incorporation) |
|
1-13412 |
13-3641539 | |
| (Commission File Number) | (IRS Employer Identification No.) |
|
PO Box 1541, 1 Blue Hill Plaza, Pearl River, New York |
10965 | |
| (Address of Principal Executive Offices) | (Zip Code) |
|
(845) 735-6000 |
| (Registrant's Telephone Number, Including Area Code) |
|
Not Applicable |
| (Former Name or Former Address, if Changed Since Last Report) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbols(s) | Name of each exchange on which registered |
| Common Stock, $0.01 par value | HDSN | Nasdaq Capital Market |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
| Item 8.01 | Other Events |
On June 29, 2021, Hudson Technologies, Inc. (the “Company”) issued a press release, attached hereto as Exhibit 99.1, announcing that the United States Defense Logistics Agency exercised its option to extend, for an additional five years to July 2026, the term of the Company’s existing five-year contract for sales to the Department of Defense.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit 99.1 Press Release issued June 29, 2021.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 29, 2021
| HUDSON TECHNOLOGIES, INC. | ||
| By: | /s/ Nat Krishnamurti | |
| Name: | Nat Krishnamurti | |
| Title: | Chief Financial Officer & Secretary | |
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Exhibit 99.1
HUDSON TECHNOLOGIES RECEIVES 5-YEAR RENEWAL AWARD FOR DEPARTMENT OF DEFENSE CONTRACT; extending the toTal contract period to ten years
PEARL RIVER, NY – June 29, 2021– Hudson Technologies, Inc. (NASDAQ: HDSN) announced today that the United States Defense Logistics Agency (“DLA”) has exercised its renewal option to contract Hudson for an additional five years as the prime contractor for the management and supply of refrigerants, compressed gases, cylinders and related items to US Military Commands and Installations, Federal civilian agencies and Foreign Militaries. The contract renews the Company’s original five-year agreement entered into with the DLA in July 2016 and represents a potential total of $400 million in sales to the Department of Defense (“DoD”) over the total 10 year contract period. The renewal is a firm-fixed-price contract with quarterly economic price adjustments subject to indefinite delivery, indefinite quantity (“IDIQ”). The primary users include the US Army, Navy, Air Force, Marine Corps and Coast Guard.
Brian F. Coleman, CEO of Hudson Technologies, commented, “We are in the process of completing our fifth year supporting the DoD, and have received exceptional ratings across all of the performance categories measured by the agency. This renewal is an indication of the strength of our capabilities as a strategic supply partner and the success of our partnership with DoD. We’re pleased to have secured a continuation of our contract to provide critical industrial and refrigerant gases to the wide range of locations and facilities the DoD oversees.”
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative and sustainable solutions for optimizing performance and enhancing reliability of commercial and industrial chiller plants and refrigeration systems. Hudson's proprietary RefrigerantSide® Services increase operating efficiency, provide energy and cost savings, reduce greenhouse gas emissions and the plant’s carbon footprint while enhancing system life and reliability of operations at the same time. RefrigerantSide® Services can be performed at a customer's site as an integral part of an effective scheduled maintenance program or in response to emergencies. Hudson also offers SMARTenergy OPS®, which is a cloud-based Managed Software as a Service for continuous monitoring, fault detection and diagnostics and real-time optimization of chilled water plants. In addition, the Company sells refrigerants and provides traditional reclamation services for commercial and industrial air conditioning and refrigeration uses. For further information on Hudson, please visit the Company's web site at www.hudsontech.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under existing credit facilities, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, the impact of the current COVID-19 pandemic, and other risks detailed in the Company's 10-K for the year ended December 31, 2020 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
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Investor Relations Contact: IMS Investor Relations jnesbett@institutionalms.com |
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