Plug Power Inc., a leader in providing clean, reliable energy solutions, has announced that it has priced an underwritten registered offering of 3,902,440 shares of its common stock.
The shares will be sold at a price to the public of $5.74 per share for gross proceeds of approximately $22.4m. The shares were placed with a single institutional investor.
Cowen and Company, LLC is acting as the sole underwriter for the offering.
Net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by Plug Power will be approximately $21.5m.
Plug Power intends to use the net proceeds of the offering for working capital and other general corporate purposes including, capital expenditures.
Houston, Texas, based Thigpen Energy has selected Chart for the provision of LNG fueling equipment and supplies – with construction already underway. Earlier this week it was announced that the company’s eastern European outfit, Chart Ferox, was chosen to construct LNG filling station in Poland.
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