Plug Power Reports Pricing Of Its Previously Announced Public Offering Of 78.74M Shares At $2.54 Per Share
Portfolio Pulse from Benzinga Newsdesk
Plug Power has announced the pricing of its public offering of 78.74 million shares at $2.54 per share, expected to close around July 22, 2024. The gross proceeds are anticipated to be approximately $200 million, which will be used for general corporate purposes.
July 19, 2024 | 11:14 am
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Plug Power has priced its public offering of 78.74 million shares at $2.54 per share, with expected gross proceeds of $200 million. The offering is set to close around July 22, 2024, and the funds will be used for general corporate purposes.
The announcement of a public offering typically leads to a short-term decrease in stock price due to dilution concerns. However, the raised capital can be beneficial for long-term growth.
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