Plug Power Inc (PLUG)

[bonneville750]

On December 22, 2016, Plug Power Inc. (the “Company”) prepaid in full its obligations under the Loan and Security Agreement, dated as of June 27, 2016, by and among the Company, Emerging Power Inc., Emergent Power Inc. and Hercules Capital Inc. (the “Hercules Loan Agreement”), and the Hercules Loan Agreement was terminated.  The Hercules Loan Agreement provided for a senior secured term loan facility.  The Company used the net proceeds of its previously announced underwritten registered offerings, together with existing cash, to prepay the principal amount outstanding under the Hercules Loan Agreement and pay the fees and expenses related to such loan, which totaled $29.0 million.  A copy of the Hercules Loan Agreement was included as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company on June 30, 2016.