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Industry News
July 12, 2011
Plug Power Announces Additional Closing of Over-Allotment in Connection with Previously Announced Public Offering
Plug Power Inc. announced that it has completed the sale of 231,000 additional shares of common stock, pursuant to the underwriter’s exercise of its over-allotment option in connection with Plug Power’s recently announced public offering of common stock and warrants, resulting in additional net proceeds to Plug Power of $517,624 after underwriting discounts and commissions and other offering expenses. Plug Power intends to use the net proceeds of the offering for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, commercial expenditures, acquisitions of new technologies or businesses that are complementary to its current technologies or business focus, and investments.
During Plug Power’s recent public offering, the Company raised approximately $20.9 million in net proceeds, after underwriting discounts and commissions payable by Plug Power. Currently, the Ccmpany has 22,639,814 shares outstanding.
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