FuelCell Energy (FCEL) to Sell 6.7M Shares at $3.59
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FuelCell Energy, Inc. (Nasdaq: FCEL) announced today that it entered into definitive agreements to sell 6.7 million shares of its common stock at $3.59 per share in a registered direct offering. The transaction is expected to close on June 19, 2009, subject to customary closing conditions.
FuelCell Energy intends to use the net proceeds from this offering for product development, project financing, expansion of manufacturing capacity, and general corporate purposes. Canaccord Adams Inc. and Lazard Capital Markets LLC acted as placement agents for the offering.
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