Replies to post #14964 on FuelCell Energy Inc (FCEL)

[M4dsc1]

Interesting thought, but my guess would be their < $6m take (after fees) would probably be used more in line with their previous requirements that Hercules gets 30% (~4m) which would bring them down to a balance of ~3.5m and would trigger the automatic extension and use the other money to prepare to pay NRG loan or pay for operations and shore up the (still?) unresolved financing on the Groton sub base project from when fifth third reduced their commitment.

From the most recent amendment with NRG, repayment of the Hercules loan in full will trigger the NRG loan to reach it's maturity date. While the amendment sets Sep 30th as the latest possible date for repayment, i would assume that they will stretch to as late as possible on having to raise capital to repay both and will rely upon the automatic extension for Hercules and pay off NRG.

Given the maturity date on NRG was set to earliest of:
Sep 30th
COD for Bolthouse Farms
Repayment of Hercules

There must have been something to make FCEL think they were making sufficient progress with Bolthouse to include it into the consideration for the NRG loan and they must've figured they can raise capital by end of the month to pay NRG.

Anyone able to unpack the 10th Hercules amendment for how that impacts the restricted/unrestricted cash for FCEL? It says specifically:

Hercules has waived Borrower’s compliance with certain financial reporting covenants and the minimum unrestricted cash balance covenant set forth in the Loan and Security Agreement, in each case from the effective date through the end of the Amendment Period

Also anyone go back to read those inventory amounts from the Aug 13th amendments for Generate? $14m in inventory ready for Bolthouse farms? They must be getting close to siting some of that equipment by now. Yaphank is up to $4m in inventory. Probably still a ways to go for that first plant. Anyone know which project CR Fuel Cell LLC is committed to building? They have up to $4m in inventory for that subsidiary. All together that $22m of the $23.4 million work in process inventory.

Interesting note... Q3 page 19 states work in process inventory as 23.4m but page 52 states it as $35m. Someone having difficulty with their math skills?

[Hoghead7]

Okay, well sucks that the avg price was $.42 but still only 160 million shares. I agree with somebody else about them waiting til mid October for next ATM over $1.