Plug Power Says Entered Into At Market Issuance Sales Agreement With B. Riley Securities For Common Stock Offering Of Up To $1B
Portfolio Pulse from Benzinga Newsdesk
Plug Power has entered into an at-market issuance sales agreement with B. Riley Securities to offer up to $1 billion of common stock, according to an SEC filing.
January 17, 2024 | 9:13 pm
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Plug Power's agreement to offer up to $1 billion in common stock could lead to dilution of existing shares, potentially impacting the stock price negatively in the short term.
The announcement of a significant common stock offering typically leads to concerns about share dilution among existing shareholders. This dilution can result in a decrease in earnings per share and often leads to a negative short-term reaction in the stock market as investors adjust to the increased share count and potential for lower future earnings per share.
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