Plug Power (PLUG) Announces $1.5B Proposed Public Offering of Common Stock
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Plug Power Inc. (“Plug Power”) (NASDAQ: PLUG), a leader in providing clean, reliable energy solutions, today announced that it is commencing a registered public offering of $1,500,000,000 of its common stock. In connection with the offering, Plug Power intends to grant the underwriter a 30-day option to purchase up to $225,000,000 of additional shares of common stock.
Morgan Stanley is acting as sole underwriter in connection with the offering, and may offer the shares of common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the Nasdaq Capital Market, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
Plug Power intends to use the net proceeds from the offering for working capital and other general corporate purposes, which may include capital expenditures, potential acquisitions, growth opportunities and strategic transactions.
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