HydroGraph Clean Power Inc. (HG.CN) announced an upsize of its previously announced bought deal offering to C$61 million. The company will issue 54.5 million units at a price of C$1.12 per unit, with gross proceeds of approximately C$61 million. The offering is being led by Canaccord Genuity Corp. and Stifel GMP, with closing expected on or about August 20, 2026.
The company plans to use the net proceeds for general corporate purposes, including working capital and potential strategic initiatives. HydroGraph is a manufacturer of high-quality graphene and hydrogen, using its patented detonation process. The company's technology converts hydrocarbons into graphene and hydrogen in a single step, with applications in batteries, composites, and other advanced materials.
The upsize reflects strong investor demand for the offering, which was initially announced earlier in August. The units will consist of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at C$1.40 for a period of 24 months following closing.
HydroGraph's graphene products are used in various industries, including energy storage, coatings, and concrete. The company's proprietary process is considered more environmentally friendly than traditional graphene production methods, as it produces hydrogen as a byproduct.
