Solar thermal magazine Public Can Now Buy Stock In Fuel Cell Developer Plug Power Inc.
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced the completion of its previously announced underwritten public offering of 22,600,000 shares of its common stock at $5.50 per share.
Morgan Stanley & Co. LLC and Barclays Capital Inc. acted as the book-running managers and Cowen and Company, LLC and FBR Capital Markets & Co. acted as co-managers for the offering.
Net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by Plug Power, were approximately $116,300,000. Plug Power intends to use the net proceeds of the offering for working capital and other general corporate purposes, which may include capital expenditures and potential acquisitions.
The securities described above were offered by Plug Power pursuant to a shelf registration statement on Form S-3 (No. 333-195431) including a base prospectus, previously filed and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement related to the offering was filed with the SEC on April 25, 2014 and is available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offered securities may also be obtained by contacting Morgan Stanley & Co. LLC, Attn: ProspectusDepartment, 180 Varick Street, 2nd Floor, New York, New York, 10014, or by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, by calling (888) 603-5847 or by emailing [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power is revolutionizing the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders, including Walmart, Sysco, Procter & Gamble, and MercedesBenz, forged the path for Plug Power’s innovative GenKey hydrogen and fuel cell system solutions. With more than 4,500 GenDrive units deployed to material handling customers, accumulating over 20 million hours of runtime, Plug Power manufactures tomorrow’s incumbent power solutions today.
Tags: Fuel Cell Developer
