Plug Power Inc. Announces Proposed Public Offering of Common Stock
LATHAM, N.Y., Dec. 02, 2019 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ: PLUG), a leader in providing clean, reliable energy solutions, today announced that it has commenced an underwritten public offering of 40 million shares of its common stock. In addition, Plug Power intends to grant the underwriters a 30-day option to purchase up to an additional 6 million shares of its common stock. Morgan Stanley and Barclays are acting as joint book-running managers for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.About Plug Power Inc.
The architect of modern hydrogen and fuel cell technology, Plug Power is the innovator that has taken hydrogen and fuel cell technology from concept to commercialization. Plug Power has revolutionized the material handling industry with its full-service GenKey solution, which is designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. Plug Power’s GenKey solution couples together all the necessary elements to power, fuel and serve a customer. With proven hydrogen and fuel cell products, Plug Power replaces lead acid batteries to power electric industrial vehicles, such as the lift trucks customers use in their distribution centers. Extending its reach into the on-road electric vehicle market, Plug Power’s ProGen platform of modular fuel cell engines empowers OEMs and system integrators to rapidly adopt hydrogen fuel cell technology. ProGen engines are proven today, with thousands in service, supporting some of the most rugged operations in the world. Plug Power is the partner that customers trust to take their businesses into the future. Plug Power Inc. Safe Harbor Statement
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (the “Company”), including, but not limited to, the risks and uncertainties related to market conditions, the expected use of proceeds, and the consummation of the proposed public offering on the terms and conditions described herein or at all. You are cautioned that such statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will have been achieved. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements, including those risks and uncertainties referenced in our public filings with the SEC. For additional disclosure regarding risks and uncertainties faced by the Company, see disclosures contained in the Company’s public filings with the SEC including, the “Risk Factors” section of the Annual Report on Form 10-K for the year ended December 31, 2018, and in the prospectus supplement related to the offering. You should consider these factors in evaluating the forward-looking statements included in this presentation and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof, and the Company undertakes no obligation to update such statements as a result of new information.Media & Investor Relations Contact:Teal Vivacqua
Plug Power Inc.
Phone: (518) 738-0269