FuelCell Energy Announces Closing of $33.5 Million Convertible Preferred Stock Transaction
September 08 2017 - 4:10PM
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, announced today the
completion of an underwritten offering of 33,500 shares of
convertible preferred stock (the “Preferred”) with a stated value
of $1,000 per share. The Preferred carries a 0.0% dividend
and is convertible into common shares at $1.84 per common share.
Total net proceeds to the Company were approximately $28
million. FuelCell Energy intends to use the net proceeds from
this offering for working capital, project financing, and general
corporate purposes.
Oppenheimer & Co. Inc. acted as the sole underwriter for the
offering.
A shelf registration statement relating to the above-described
securities was previously filed with and declared effective by the
U.S. Securities and Exchange Commission. The securities may
be offered only by means of a prospectus, including a prospectus
supplement, forming a part of the effective registration statement.
Copies of the final prospectus supplement together with the
base prospectus relating to this offering can be obtained at 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.
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
@FuelCell_Energy.
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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