12.11.2003: Meldung: Plug Power Inc.: Common Stock Offering
Tuesday November 11, 8:32 am ET
LATHAM, N.Y., Nov. 11 / Plug Power Inc. (Nasdaq: PLUG - News) announced today that it has entered into agreements to sell 11,700,000 shares of its common stock to selected investors at $5.00 per share for aggregate proceeds to the Company of $58.5 million, before placement fees and other offering expenses. The proceeds of the offering will be used for general corporate purposes, including research and product development, manufacturing, market development, capital expenditures and working capital.(Logo: http://www.newscom.com/cgi-bin/prnh/20021024/PLUGLOGO )Citigroup Global Markets Inc. and Stephens Inc. are acting as exclusive placement agents in connection with the offering. The shares in the offering will be issued under the Company"s existing shelf registration statement filed with the Securities and Exchange Commission. A prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement relating to the offering may be obtained from the offices of Plug Power Inc., 968 Albany Shaker Road, Latham, New York 12110.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Plug Power
Plug Power Inc. designs and develops on-site energy systems based on proton exchange membrane fuel cells. Plug Power"s strategic partners include GE Fuel Cell Systems, DTE Energy Technologies, Vaillant GmbH, Honda R&D Co., Ltd., Engelhard Corporation and Celanese Ventures. The Company"s headquarters are located in Latham, N.Y., with offices in Washington, D.C., and The Netherlands.
Source: Plug Power Inc.