|Fuel Cell Manufacturer H Power Corp. Files Registration|
Statement for Initial
CLIFTON, N.J., April 10 /PRNewswire/ -- H Power Corp. announced today that it has filed a registration statement with the Securities and Exchange Commission with respect to an initial public offering of its common stock. H Power has applied to have the shares listed on the Nasdaq National Market under the symbol "HPOW." Lehman Brothers Inc. is acting as lead manager and CIBC World Markets Corp., Deutsche Bank Securities Inc., Josephthal & Co. Inc. and Fidelity Capital Markets Corp., a division of National Financial Services Corporation are acting as co-managers.
H Power will use the net proceeds of the offering for general corporate purposes, including the acquisition of new manufacturing facilities and equipment, the funding of continued research and product development, the expansion of its marketing and sales efforts, potential acquisitions and for working capital.
H Power is a developer of proton exchange membrane, or PEM, fuel cell systems. H Power's PEM fuel cells are designed to provide electricity to a
wide range of stationary, portable and mobile applications. PEM fuel cells
are devices that generate electricity from the electrochemical reaction of hydrogen and oxygen.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 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.
When available, copies of the preliminary prospectus relating to this offering may be obtained from Lehman Brothers Inc., 3 World Financial Center, 200 Vesey Street, New York, NY 10285, 212-526-7000; and H Power Corp., 1373 Broad Street, Clifton, NJ 07013, 973-450-4400.
SOURCE H Power Corp.
/CONTACT: William L. Zang, Chief Financial Officer of H Power Corp., 973-450-4400, firstname.lastname@example.org /
CO: H Power Corp. ST: New Jersey IN: OIL SU: