Plug Power Is Selling Stock. Its Shares Are Falling
PLUGPlug Power(PLUG) Investopedia·2024-07-20 00:01

Key TakeawaysPlug Power said it would offer roughly 79 million shares at a price of 2.54each,whichwouldgenerategrossproceedsof2.54 each, which would generate gross proceeds of 200 million.The price was below Thursday's close, and the company's shares fell Friday. The company didn't specify a use for the proceeds. Plug Power (PLUG) stock tumbled after the company said it would sell more shares to the public, which it expects to generate 200millioninproceeds.Thehydrogenfuelcellproducersaiditwouldsellnearly79millionsharesat200 million in proceeds. The hydrogen fuel cell producer said it would sell nearly 79 million shares at 2.54 e ...