Combined heat and power company Tecogen sets terms for $10.5 million IPO


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Tecogen, which sells and services commercial natural gas-powered cogeneration systems, announced terms for its IPO on Thursday. The Waltham, MA-based company plans to raise $10.5 million by offering 2 million shares at a price range of $4.75 to $5.75. At the midpoint of the proposed range, it would command a fully diluted market value of $94 million.

Tecogen, which was founded in 2000 and booked $16 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol TGEN. It previously set terms to raise $20 million in September 2013 at a $113 million market cap, but withdrew in October. Scarsdale Equities is the sole bookrunner on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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