Plug Power Inc. Announces Proposed Public Offering of Common Stock
5:07 pm ET December 2, 2019 (Globe Newswire) Print
Plug Power Inc. (NASDAQ: PLUG), a leader in providing clean, reliable energy solutions, today announced that it has commenced an underwritten public offering of 40 million shares of its common stock. In addition, Plug Power intends to grant the underwriters a 30-day option to purchase up to an additional 6 million shares of its common stock.
Morgan Stanley and Barclays are acting as joint book-running managers for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
Plug Power intends to use the net proceeds from the offering for working capital and other general corporate purposes, including capital expenditures.
The securities described are being offered by Plug Power pursuant to an automatic shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (the "SEC") and declared effective by the SEC. A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained by contacting Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (888) 603-5847.
