FuelCell Energy Announces Proposed Public Offering of Common Stock and Warrants
April 27 2017 - 4:05PM
FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in
delivering clean, innovative and affordable fuel cell solutions for
the supply, recovery and storage of energy, today announced its
intention to offer shares of common stock and Series C and Series D
warrants to purchase shares of common stock in an underwritten
public offering. The Company also expects to grant the
underwriters a 30-day option to purchase additional shares of
common stock and warrants offered in the public offering. The
Series C warrants are expected to be immediately exercisable and
have a term of five years. The Series D warrants are expected
to be immediately exercisable and have a term of one year.
The offering is subject to market conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size of the offering. The Company intends to
use the proceeds from this offering for project development,
project financing, working capital and general corporate
purposes.
Oppenheimer & Co. Inc. is acting as the sole
book-running manager for the offering.
The Company intends to offer and sell these
securities pursuant to the Company’s existing shelf registration
statement initially filed with the Securities and Exchange
Commission on January 12, 2017, which was declared effective on
February 24, 2017. A prospectus supplement describing the
terms of the offering will be filed with the Securities and
Exchange Commission and will form a part of the effective
registration statement. When available, copies of the
preliminary prospectus supplement, the final prospectus supplement
and accompanying base prospectus related to this offering may be
obtained from the Securities and Exchange Commission’s website at
http://www.sec.gov or from Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad Street,
26th Floor, New York, New York 10004, by telephone at
212-667-8563, or by e-mail at EquityProspectus@opco.com.
This press release does not constitute an offer to
sell or the solicitation of offers to buy any securities of
FuelCell Energy, and shall not constitute an offer, solicitation or
sale of any security in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Cautionary Language
This news release contains forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, including,
without limitation, FuelCell’s expectations regarding the sale of
shares of its common stock and warrants in the proposed public
offering, its use of the proceeds from the proposed offering and
other statements that are not purely statements of historical fact.
These forward-looking statements are made on the basis of the
current beliefs, expectations and assumptions of the management of
FuelCell and are subject to significant risks and uncertainty.
Investors are cautioned not to place undue reliance on any such
forward-looking statements. All such forward-looking statements
speak only as of the date they are made, and FuelCell undertakes no
obligation to update or revise these statements, whether as a
result of new information, future events or otherwise. Although
FuelCell believes that the expectations reflected in these
forward-looking statements are reasonable, these statements involve
many risks and uncertainties that may cause actual results to
differ materially from what may be expressed or implied in these
forward-looking statements. For a further discussion of risks
and uncertainties that could cause actual results to differ from
those expressed in these forward-looking statements, as well as
risks relating to the business of FuelCell in general, see the risk
disclosures in FuelCell’s filings with the Securities and Exchange
Commission.
About FuelCell EnergyFuelCell
Energy (NASDAQ:FCEL) delivers efficient, affordable and clean
solutions for the supply, recovery and storage of energy. We
design, manufacture, undertake project development, install,
operate and maintain megawatt-scale fuel cell systems, serving
utilities, industrial and large municipal power users with
solutions that include both utility-scale and on-site power
generation, carbon capture, local hydrogen production for
transportation and industry, and long duration energy
storage. With SureSource™ installations on three continents
and millions of megawatt hours of ultra-clean power produced,
FuelCell Energy is a global leader with environmentally responsible
power solutions. Visit us online at
www.fuelcellenergy.com and follow us on Twitter.
SureSource, SureSource 1500, SureSource 3000,
SureSource 4000, SureSource Recovery, SureSource Capture,
SureSource Hydrogen, SureSource Storage, SureSource Service,
SureSource Capital, FuelCell Energy, and FuelCell Energy logo are
all trademarks of FuelCell Energy, Inc.
Source: FuelCell Energy
Contact:
FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations
203-830-7494
ir@fce.com
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