Plug Power (PLUG) has released an update to notify the public and investors about an entry into a material definitive agreement.
Plug Power Inc. entered into a Sales Agreement with B. Riley Securities, Inc. on January 17, 2024, to potentially sell up to $1.0 billion of its common stock at market prices. Over an 18-month period, the company may direct B. Riley to buy up to $10 million of stock per trading day, with a weekly cap of $30 million across all transactions. B. Riley will earn a commission for its services, with rates differing between agency and principal transactions. The agreement, which may be terminated under certain conditions, was made under the Company’s existing shelf registration and is detailed in a prospectus supplement.
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