Combined heat and power company Tecogen sets terms for $20 million IPO


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Tecogen, which sells and services electricity, hot water and AC systems for commercial and industrial installations, announced terms for its IPO on Tuesday. The Waltham, MA-based company plans to raise $20 million by offering 3.0 million shares at a price range of $5.50 to $7.50. At the midpoint of the proposed range, Tecogen would command a fully diluted market value of $113 million.

Tecogen, which was founded in 2000 and booked $15 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol TGEN. Northland Securities and Scarsdale Equities are the joint bookrunners 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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