08:45 AM EDT, 07/18/2025 (MT Newswires) -- Tecogen ( TGEN ) said Friday that it has priced an underwritten public offering of 3.5 million shares of its common stock at $5 per share, for gross proceeds of $17.5 million.

The offering is expected to be completed on or about July 21, the company said.

Tecogen ( TGEN ) said it has granted the underwriters a 45-day option to purchase up to 485,000 additional shares of common stock.

Tecogen ( TGEN ) said it plans to use the net proceeds for continued product development, increased sales and marketing activities, capital expenditures, and other costs and expenses, as well as for general working capital and corporate purposes.

The company's shares were down 2.4% in recent Friday premarket activity.