FUELCELL ENERGY, INC. (NASDAQ:FCEL) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
Entry into a Material Definitive |
As previously announced, on May 3, 2017, in connection with the
completion of its underwritten public offering of (i) 12,000,000
shares of its Common Stock, $0.0001 par value per share (the
Common Stock), (ii)Series C warrants to purchase an aggregate of
12,000,000 shares of Common Stock and (iii)Series D warrants to
purchase an aggregate of 12,000,000 shares of Common Stock (the
Offering), FuelCell Energy, Inc. (the Company) entered into the
Series C and Series D warrants in the forms attached to its
Current Report on Form 8-K filed on April 28, 2017. The Series C
warrants have an exercise price of $1.60 per share, are
immediately exercisable and will expire on the fifth anniversary
of the date of issuance.The Series D warrants have an exercise
price of $1.28 per share, are immediately exercisable and will
expire on the first anniversary of the date of issuance.
All of the Common Stock and warrants were offered and sold by the
Company at the public offering price of $1.28 per share and
accompanying warrants. The total net proceeds to the Company
after expenses were approximately $13.8 million. The Company
intends to use the net proceeds from the Offering for project
development, project financing, working capital and general
corporate purposes.
The Common Stock and warrants were offered and sold to
aprospectusdated February 24, 2017 and aprospectus
supplementfiled with the U.S. Securities and Exchange Commission
(the SEC) on May 1, 2017, to the Companys shelf registration
statement onForm S-3(SEC File No.333-215530), previously declared
effective by the Securities and Exchange Commission.
Item8.01 |
Other Events. |
On May3, 2017, the Company issued a press release announcing the
completion of the Offering. A copy of the press release is
attached as Exhibit99.1 to this report and is incorporated by
reference herein.
Item9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit No. |
Description | |
99.1 | Press release of FuelCell Energy, Inc., issued on May 3, 2017 |
About FUELCELL ENERGY, INC. (NASDAQ:FCEL)
FuelCell Energy, Inc. is an integrated fuel cell company. The Company designs, manufactures, sells, installs, operates and services stationary fuel cell power plants for distributed power generation. The Company’s segment is fuel cell power plant production and research. The Company’s power plants provide on-site power and utility grid support. The Company’s plants operate in approximately 50 locations on approximately three continents and generate approximately four billion kilowatt hours (kWh) of electricity. The Company’s fuel cell products, Direct FuelCell (DFC) power plants offer power generation for customers, including approximately 2.8 megawatts DFC3000, approximately 1.4 megawatts DFC1500 and approximately 300 kilowatts DFC300 plus derivations of the DFC product for specific applications. The Company offers project development; engineering procurement and construction (EPC) services operations and maintenance, and project finance. FUELCELL ENERGY, INC. (NASDAQ:FCEL) Recent Trading Information
FUELCELL ENERGY, INC. (NASDAQ:FCEL) closed its last trading session up +0.02 at 1.10 with 774,464 shares trading hands.