Plug Power Inc. Announces Proposed Public Offering of Common Stock
December 02 2019 - 5:07PM
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. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Plug Power Inc.The
architect of modern hydrogen and fuel cell technology, Plug Power
is the innovator that has taken hydrogen and fuel cell technology
from concept to commercialization. Plug Power has revolutionized
the material handling industry with its full-service GenKey
solution, which is designed to increase productivity, lower
operating costs and reduce carbon footprints in a reliable,
cost-effective way. Plug Power’s GenKey solution couples together
all the necessary elements to power, fuel and serve a customer.
With proven hydrogen and fuel cell products, Plug Power replaces
lead acid batteries to power electric industrial vehicles, such as
the lift trucks customers use in their distribution centers.
Extending its reach into the on-road electric vehicle market, Plug
Power’s ProGen platform of modular fuel cell engines empowers OEMs
and system integrators to rapidly adopt hydrogen fuel cell
technology. ProGen engines are proven today, with thousands in
service, supporting some of the most rugged operations in the
world. Plug Power is the partner that customers trust to take their
businesses into the future.
Plug Power Inc. Safe Harbor
StatementThis communication contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve significant risks and uncertainties
about Plug Power Inc. (the “Company”), including, but not limited
to, the risks and uncertainties related to market conditions, the
expected use of proceeds, and the consummation of the proposed
public offering on the terms and conditions described herein or at
all. You are cautioned that such statements should not be read as a
guarantee of future performance or results, and will not
necessarily be accurate indications of the times that, or by which,
such performance or results will have been achieved. Such
statements are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those
expressed in these statements, including those risks and
uncertainties referenced in our public filings with the SEC.
For additional disclosure regarding risks and uncertainties faced
by the Company, see disclosures contained in the Company’s public
filings with the SEC including, the "Risk Factors" section of the
Annual Report on Form 10-K for the year ended December 31, 2018,
and in the prospectus supplement related to the offering. You
should consider these factors in evaluating the forward-looking
statements included in this presentation and not place undue
reliance on such statements. The forward-looking statements are
made as of the date hereof, and the Company undertakes no
obligation to update such statements as a result of new
information.
Media & Investor Relations
Contact:
Teal VivacquaPlug Power Inc.Phone: (518)
738-0269media@plugpower.com
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