ELGIN, Ill., June 22, 2010 (GLOBE NEWSWIRE) -- Heritage-Crystal Clean, Inc. (the "Company") (Nasdaq:HCCI) announced today that the underwriters for its public offering of 3,000,000 shares of common stock have purchased an additional 450,000 shares of common stock pursuant to their option to purchase additional shares granted in connection with the offering. The net proceeds to the Company, after deducting the underwriting discount, from the sale of these additional shares are approximately $3.4 million. This brings the total expected proceeds of the offering, after deducting the underwriting discount and estimated offering expenses, to $25.4 million. William Blair & Company, L.L.C. is serving as the lead underwriter for the offering. Robert W. Baird & Co. and Needham & Company, LLC are serving as co-managers.
The Company granted the option to the underwriters in connection with its previously announced offering of 3,000,000 shares of common stock at a public offering price of $8.00 per share, which closed on June 14, 2010.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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. A prospectus related to the offering may be obtained from the prospectus department of William Blair & Company, L.L.C. by written request to Prospectus Department, 222 West Adams Street, Chicago, Illinois 60606, or by telephone at (312) 364-8600 or Toll-free at (800) 621-0687.A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 8, 2010. This offering may be made only by means of a prospectus. Safe Harbor Statement All references to the "Company," "we," "our," and "us" refer to Heritage-Crystal Clean, Inc., and its subsidiary, Heritage-Crystal Clean, LLC.