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Tuesday, September 29, 2020 11:01:05 PM
DANBURY, Conn., Sept. 29, 2020 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) (“FuelCell Energy†or the “Companyâ€) today announced the pricing of its underwritten public offering of 43,500,000 shares of its common stock (the “Offeringâ€), at a public offering price of $2.10 per share, for gross proceeds of approximately $91,350,000. The Offering is expected to close on or about October 2, 2020, subject to customary closing conditions. FuelCell Energy has also granted the underwriters a 30-day option to purchase up to 6,525,000 additional shares of its common stock.]]>
The Offering
Issuer
FuelCell Energy, Inc.
Common stock offered by us
31,000,000 shares (or 35,650,000 shares if the underwriters option to purchase additional shares is exercised in full)
Common stock outstanding after
this offering
270,374,041 shares (or 275,024,041 shares if the underwriters option to purchase additional shares is exercised in full)
Use of proceeds
We estimate that the net proceeds from this offering will be approximately $million (or approximately $million if the underwriters option to purchase additional shares is exercised in full), after deducting underwriting discounts and commissions and our expenses.
We intend to use the net proceeds from this offering for project development, project financing, working capital support and general corporate purposes. Additionally, we may also use a portion of the net proceeds of this offering to pay all or a portion of the principal redemption price of the issued and outstanding ClassA Preferred Shares of FCE FuelCell Energy Ltd., together with accrued and unpaid dividends thereon. Finally, we may also use a portion of the net proceeds of this offering to make certain other payments to lenders, including to (i)Orion (as defined below) under the Orion Facility (as defined below), (ii)the Connecticut Green Bank, and/or (iii)Liberty Bank for amounts received under the PPP Note (as defined below) to the extent that the PPP Note is not forgiven. See Use of Proceeds on page S-8 for additional information.
Nasdaq Global Market symbol
FCEL
Recent FCEL News
- FuelCell Energy Announces Major Clean Fuel Fund Support for eFuel Projects in Canada • GlobeNewswire Inc. • 08/22/2024 01:20:25 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 08/20/2024 12:01:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/20/2024 12:00:13 PM
- FuelCell Energy, Inc. Announces Special Stockholder Meeting • GlobeNewswire Inc. • 08/20/2024 12:00:00 PM
- FuelCell Energy to Show Industry How to Sustainably Create CO2 at World Brewing Congress • GlobeNewswire Inc. • 08/15/2024 12:00:00 PM
- FuelCell Energy Marks a Significant Milestone in Korean Market Expansion • GlobeNewswire Inc. • 07/11/2024 12:00:00 PM
- FuelCell Energy to Help Power UConn’s Innovation Drive Towards 2030 Carbon Neutrality with Solid Oxide Fuel Cells on Storrs Campus • GlobeNewswire Inc. • 06/25/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/10/2024 11:40:39 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/10/2024 11:35:16 AM
- FuelCell Energy Reports Second Quarter of Fiscal 2024 Results • GlobeNewswire Inc. • 06/10/2024 11:30:00 AM
- US Index Futures Drop Ahead of FOMC Decision, Oil Prices Inch Up • IH Market News • 06/10/2024 11:23:30 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/06/2024 08:05:38 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/30/2024 08:15:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/28/2024 08:15:21 PM
- FuelCell Energy and Gyeonggi Green Energy Announce Agreement for Purchase of Fuel Cell Modules and Service Agreement for World’s Largest Fuel Cell Power Platform • GlobeNewswire Inc. • 05/28/2024 04:46:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:42:32 PM
- FuelCell Energy Announces Second Quarter of Fiscal 2024 Results Conference Call on June 10, 2024 at 10 A.M. Eastern Time • GlobeNewswire Inc. • 05/22/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 09:23:12 PM
- FuelCell Energy and Toyota Motor North America Celebrate Launch of World's First "Tri-gen" Production System at the Port of Long Beach • GlobeNewswire Inc. • 05/02/2024 11:30:00 AM
- FuelCell Energy and Toyota Motor North America Celebrate Launch of World's First 'Tri-gen' Production System at the Port of Long Beach • PR Newswire (US) • 05/02/2024 11:00:00 AM
- Tyrone Michael Jordan Appointed to FuelCell Energy’s Board of Directors • GlobeNewswire Inc. • 04/29/2024 09:01:32 PM
- FuelCell Energy Announces Debt Financing for Derby Power Projects • GlobeNewswire Inc. • 04/29/2024 12:00:00 PM
- FuelCell Energy Technology to be Used in Sacramento Wastewater Biofuel Clean Energy Project • GlobeNewswire Inc. • 04/11/2024 12:00:00 PM
- Recently Updated and Extended Joint Development Agreement between ExxonMobil Technology and Engineering Company and FuelCell Energy Aimed at Accelerating Access to Carbonate Fuel Cell Technology for Carbon Capture • GlobeNewswire Inc. • 04/08/2024 12:00:00 PM
- FuelCell Energy Innovators to Highlight Advanced Clean Technologies at CERAWeek 2024 • GlobeNewswire Inc. • 03/19/2024 12:00:00 PM
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