PLUG POWER INC. (NASDAQ:PLUG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Securities Purchase Agreement
On March20, 2019, the Company entered into Securities Purchase Agreements (collectively, the “Purchase Agreements”) with the purchasers party thereto (the “Purchaser”). to the Purchase Agreements, the Company agreed to issue and sell in a registered direct offering an aggregate of 10,000,000 shares of the Company’s Common Stock, par value $0.01 per share (the “Common Stock”), at a purchase price of $2.35 per share (the “Offering”). The Offering was completed on March20, 2019. The net proceeds to the Company are expected to be approximately $23.5 million after deducting estimated expenses payable by the Company. The Company intends to use the net proceeds of the Offering for working capital and other general corporate purposes.
The Purchase Agreements contain customary representations, warranties, and agreements by the Company, and customary indemnification and other obligations of the Company and the Purchasers.
The foregoing summary of the Purchase Agreements is qualified in its entirety by the full text of the Purchase Agreements, a form of which is filed herewith as Exhibit10.1 and incorporated herein by reference. The form of Purchase Agreement is attached hereto as an exhibit to provide investors and security holders with information regarding its terms. It is not intended to provide any other factual information about the Company. The representations, warranties and covenants contained in the Purchase Agreements were made only for purposes of the Purchase Agreements and as of specific dates, were solely for the benefit of the parties to the Purchase Agreements, and may be subject to limitations agreed upon by the contracting parties.
A copy of the legal opinion of Goodwin Procter LLP, relating to the validity of the shares issued in the Offering, is filed as Exhibit5.1 to this Current Report on Form8-K and is filed with reference to, and is hereby incorporated by reference into, the Registration Statement.
On March20, 2019, the Company issued a press release announcing the entry into the Purchase Agreements, a copy of which is attached hereto as Exhibit99.1 and incorporated herein by reference.
PLUG POWER INC Exhibit
EX-5.1 2 a19-6870_1ex5d1.htm EX-5.1 Exhibit 5.1 March 20,…
To view the full exhibit click here
About PLUG POWER INC. (NASDAQ:PLUG)
Plug Power Inc. is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn. GenKey offers solutions to customers transitioning their material handling vehicles to fuel cell power. GenDrive is a hydrogen fueled proton exchange membrane (PEM) fuel cell system. It provides power to material handling vehicles. GenFuel is a hydrogen fueling delivery system. It is designed to allow customers to refuel its GenDrive units for productivity. GenCare is an ongoing maintenance program for both the GenDrive fuel cells and GenFuel products. ReliOn is a stationary fuel cell solution. It provides scalable, modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation and utility sectors.
