First Hydrogen Raises $1.56 Million in Warrant-Backed Private Placement

First Hydrogen ( (TSE:FHYD) ) just unveiled an update.

First Hydrogen Corp. has closed a private placement financing of 5.2 million units, raising gross proceeds of $1.56 million, with each unit comprising one common share and a warrant exercisable at $0.45 for two years. Conducted under a listed issuer financing exemption that removes hold-period restrictions, the raise provides fresh working capital and general corporate funding, while the company also paid a $124,800 cash finder’s fee and issued 416,000 finder warrants on the same terms, modestly strengthening its balance sheet to support ongoing development of its zero-emission vehicle and green hydrogen initiatives.

The most recent analyst rating on (TSE:FHYD) stock is a Hold with a C$0.41 price target. To see the full list of analyst forecasts on First Hydrogen stock, see the TSE:FHYD Stock Forecast page.

Spark’s Take on TSE:FHYD Stock

According to Spark, TipRanks’ AI Analyst, TSE:FHYD is a Neutral.

The score is held down primarily by very weak financial performance (minimal revenue, sustained losses, negative cash flow, and negative equity) and bearish technicals (below key moving averages with negative MACD). Valuation provides limited support due to negative earnings and no dividend yield, while recent corporate events are modestly positive but do not offset the core financial and trend risks.

To see Spark’s full report on TSE:FHYD stock, click here.

More about First Hydrogen

First Hydrogen Corp. is a Vancouver-, Montreal-, Germany- and London-based company focused on zero-emission vehicles and green hydrogen production and distribution. It has designed and built two hydrogen fuel-cell-powered light commercial vehicles that are road-legal in the UK (excluding Northern Ireland), have completed around 6,000 km of testing, and demonstrated a range of more than 630 km on a single refuelling in real-world fleet trials.

Average Trading Volume: 19,885

Technical Sentiment Signal: Sell

Current Market Cap: C$30.07M

For a thorough assessment of FHYD stock, go to TipRanks’ Stock Analysis page.