Plug Power Inc. (NASDAQ:PLUG) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry Into a Material Definitive Agreement.
On July21, 2017, Plug Power Inc., a Delaware corporation (the “Company”) entered into an Amended and Restated Loan and Security Agreement (the “Amended Loan Agreement”) with NY Green Bank, a Division of the New York State Energy Research& Development Authority (“Lender”), which amends and restates the Loan and Security Agreement it entered into on December23, 2016 with Lender (the “Original Loan Agreement”). The Amended Loan Agreement, among other things, provides for an additional $20 million term loan to be added to the existing $25 million term loan under the Original Loan Agreement and amends the interest rate, prepayment penalty, and product deployment and employment targets. The maturity of the Amended Loan Agreement will remain at December2019.
The foregoing summary is qualified in its entirety by reference to the Amended Loan Agreement, which is filed as Exhibit10.1 hereto and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant
See the disclosure set forth in Item 1.01, “Entry into a Material Definitive Agreement,” of this Current Report on Form8-K, which disclosure is incorporated into this Item 2.03 by reference.
Item 8.01.Other Events.
On July26, 2017, the Company issued a press release with respect to the Amended Loan Agreement, which press release is attached hereto as Exhibit99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
|
ExhibitNumber |
Title |
|
10.1 |
Amended and Restated Loan and Security Agreement, dated as of July21, 2017, by and between Plug Power Inc. and NY Green Bank |
|
99.1 |
Plug Power Inc. Press Release dated July26, 2017 |